Cost Plus Construction Contract With Guaranteed Maximum Price In Washington

• Category: Construction - Contractors
• State: Multi-State
• Control #: US-00462
• Format: Word; Rich Text

Description

The Cost Plus Construction Contract with Guaranteed Maximum Price in Washington is a legal agreement designed for a contractor and an owner to outline the parameters of a construction project. Key features include the scope of work detailing the Project specifications, a clear designation of the work site, and responsibilities regarding permits and insurance. A significant aspect of this contract is the cost plus arrangement, where the contractor is reimbursed for actual costs incurred plus a fixed fee, ensuring that the project stays within a guaranteed maximum price. Changes to the scope of work can be made through written change orders, which may affect total project costs. The contract also stipulates late payment penalties and warranty terms for workmanship defects. This form is valuable for attorneys, partners, owners, associates, paralegals, and legal assistants seeking to establish a clear, enforceable framework for construction projects while addressing legal obligations and financial responsibilities.