Construction Contract Cost Plus With Gmp In Wayne
Category:
State:
Multi-State
County:
Wayne
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus with GMP in Wayne is a detailed agreement between a Contractor and an Owner for constructing a residential project. This contract specifies the scope of work, including necessary permits, site conditions, and insurance obligations. A key feature is the cost-plus payment structure where the Owner pays the Contractor for actual costs incurred plus a set fee. It allows for changes in scope via written Change Orders, with associated costs outlined clearly. The contract also addresses late payments and warranty terms, ensuring both parties are aware of their responsibilities and protections. Legal professionals, including attorneys, paralegals, and associates, will find this contract useful for its clear structure and provisions that safeguard their clients' interests. The form serves as a practical tool for Owners seeking transparency in construction costs and for Contractors aiming to establish clear terms before work begins. Filling and editing instructions are straightforward as the form requires specific details about the project, payment terms, and any additional site work needed.
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FAQ
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
