What are builder fees?

Contractor expenses, often referred to as Overhead and Profit (O&P) is intended to cover the general contractor's overhead and operating costs, as well as profit. It is typically estimated at 20% of the total amount of the contractor's own rebuild or renovation estimate.

US Legal Forms
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Construction Contractor Forms
Multi-State
Construction Contract for Home - Fixed Fee or Cost Plus

Cost Plus Fee Construction Contract In Washington

Category:

Construction - Contractors

State:

Multi-State

Control #:

US-00462

Format:

Instant download

Description

The Cost Plus Fee Construction Contract in Washington is a formal agreement between a Contractor and an Owner that outlines the terms for construction services. Key features include a detailed scope of work, which specifies the labor and materials required for the project. The contract mandates the Contractor to secure necessary permits, manage insurance liabilities, and clarify site and soil condition responsibilities. It allows for changes in the project scope through written Change Orders, with adjustments reflecting any resulting cost variations. Payment terms include the Contractor being compensated for the actual costs of materials plus an agreed-upon fee. The contract imposes penalties for late payments and includes warranty provisions that limit the Contractor's liability to one year for workmanship defects. This form is particularly useful for attorneys, partners, and associates involved in real estate and construction law, as well as paralegals and legal assistants assisting clients in drafting or reviewing construction agreements.

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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

We protect your documents and personal data by following strict security and privacy standards.

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FAQ

Contractor expenses, often referred to as Overhead and Profit (O&P) is intended to cover the general contractor's overhead and operating costs, as well as profit. It is typically estimated at 20% of the total amount of the contractor's own rebuild or renovation estimate.