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Construction Contract for Home - Fixed Fee or Cost Plus

Contract Cost Plus Form Template For Contract In Washington

Category:

Construction - Contractors

State:

Multi-State

Control #:

US-00462

Format:

Instant download

Description

The Contract Cost Plus Form Template for Contract in Washington is designed to facilitate construction agreements between contractors and owners. This form outlines the scope of work, work site details, permit requirements, soil conditions, insurance responsibilities, survey and title obligations, and options for changes to the scope of work. Notably, it includes a cost plus payment structure, where the owner agrees to reimburse the contractor for actual material costs plus an agreed fee for services. The form emphasizes the owner's responsibility for additional costs arising from changes after the initiation of work and requires a written 'Change Order' for modifications. This template is vital for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction contracts. It helps ensure clear communication of terms, promotes accountability, and protects the rights of both parties, offering a structured approach to managing construction projects effectively.

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FAQ

Write the contract in six steps Start with a contract template. Open with the basic information. Describe in detail what you have agreed to. Include a description of how the contract will be ended. Write into the contract which laws apply and how disputes will be resolved. Include space for signatures.

How to draft a contract between two parties: A step-by-step checklist Know your parties. Agree on the terms. Set clear boundaries. Spell out the consequences. Specify how you will resolve disputes. Cover confidentiality. Check the legality of the contract. Open it up to negotiation.

To make a legally binding contract, 5 elements must be satisfied: offer, acceptance, consideration, intention and capacity: Offer: One party makes an offer. Acceptance: The other party accepts the offer. Consideration: Each party provides consideration to the other.

Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).

A comprehensive guide on how to draft a contract Know your parties. Agree on the terms. Set clear boundaries. Spell out the consequences. Specify how you will resolve disputes. Cover confidentiality. Check the legality of the contract. Open it up to negotiation.