Home Fee Cost Plus Contract With Gmp In Washington

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

Description

The Home Fee Cost Plus Contract with GMP in Washington is a legally binding agreement between a Contractor and an Owner for the construction of a residential project. This contract outlines key elements such as the scope of work, work site details, necessary permits, and insurance requirements. One of the prominent features is the fee structure, where Owners agree to pay for the actual costs incurred by the Contractor, in addition to a pre-determined fee. The document also addresses potential changes to the project, specifying that any modifications must be documented through written Change Orders. Late payment penalties are included, emphasizing timely execution of payments. The warranty clause primarily limits the Contractor's responsibility to defects in workmanship for one year after completion, while materials are covered under manufacturer warranties. This contract is essential for legal professionals such as attorneys, partners, and paralegals who facilitate construction agreements, ensuring all parties are clear on responsibilities and limitations. Additionally, it serves owners and associates involved in project management by providing guidelines for changes and financial obligations associated with home construction.