Sample Of Cost Plus Contract For Construction In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Sample of cost plus contract for construction in Wake is a legal document outlining the agreement between a contractor and an owner for a construction project. Key features of this form include a detailed scope of work, the definition of the work site, and provisions for obtaining necessary permits. Additionally, it addresses the contractor's responsibility regarding soil conditions, insurance requirements, and the process for making changes to the scope of work. The contract stipulates the payment structure, which can either be cost-plus or fixed fee, and outlines late payment penalties. This form also contains warranty clauses pertaining to defects in workmanship. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this contract useful for safeguarding legal rights, ensuring compliance, and managing construction project costs. It helps clarify obligations and protections for both contractors and owners, making it essential for those involved in construction and real estate transactions.
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FAQ
How To Write A Construction Contract With 7 Steps Step 1: Define the Parties Involved. Step 2: Outline the Scope of Work. Step 3: Establish the Timeline. Step 4: Determine the Payment Terms. Step 5: Include Necessary Legal Clauses. Step 6: Address Change Orders and Modifications. Step 7: Sign and Execute the Contract.
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
