Cost Plus Contract In Simple Words In Washington

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

Description

A cost plus contract in simple words in Washington allows an owner to pay a contractor for the actual costs of materials and labor, plus an additional fee for the contractor’s services. This contract outlines the scope of work, where the project will be built, and includes provisions for obtaining necessary permits. Key features include the contractor's responsibility for insurance and the owner's coverage of unexpected soil conditions. Any changes to the work must be documented through a written change order and may increase costs. Payment terms specify late fees for overdue payments. This form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it helps establish clear expectations and legal protections regarding construction projects. It ensures transparency in cost management and facilitates collaborative adjustments throughout the building process.