Contract Cost Plus Form With Gmp In Washington
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Description
The Contract Cost Plus Form with GMP in Washington is a legal document primarily used for construction agreements where the contractor is paid based on actual costs incurred plus a guaranteed maximum price (GMP). This form includes essential sections such as scope of work, work site details, permit responsibilities, and soil conditions, providing a clear framework for construction projects. Users must ensure that the contractor maintains proper insurance and obtains necessary permits, as outlined in the form. The document allows for changes to the scope of work via written change orders, ensuring transparency regarding cost impacts. Filling this form requires entering specific details about the project, cost structure, and payment terms. It is particularly useful for attorneys, owners, and paralegals, as it clearly defines roles and responsibilities, reducing the risk of disputes. Legal assistants and associates can assist in preparing the form by ensuring all required specifications are accurately captured. This contract format also serves to protect all parties involved, fostering accountability and clarity throughout the construction process.
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FAQ
The major difference between lump sum and EPC is that, in EPC the contractor has the responsibility of design and construction. b. Where as in lump sum contract the design and drawings are prepared by the technical team of the owner.
