What is the maximum contract value?

Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

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Construction Contract for Home - Fixed Fee or Cost Plus

Construction Cost Contract Plus With Guaranteed Maximum Price In Wayne

Q: What is the maximum contract value?

Maximum Contract Value means the amount specified in the &quot;Limitation of Expenditure&quot; clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

Category:

Construction - Contractors

State:

Multi-State

County:

Wayne

Control #:

US-00462

Format:

Instant download

Description

The Construction Cost Contract Plus with Guaranteed Maximum Price in Wayne is designed to formalize the agreement between a contractor and an owner for a construction project. This contract outlines key elements such as the scope of work, work site details, required permits, and insurance obligations. An important feature of this contract is the 'Cost Plus' fee structure, where the owner agrees to pay the actual costs incurred by the contractor, plus a designated fee. Alternatively, a fixed fee option is also available. The contract includes provisions for changes to the scope of work via written change orders and stipulates the handling of late payments and warranties. This form is particularly useful for attorneys, partners, and owners involved in real estate or construction, as it provides a clear framework for obligations and responsibilities. Paralegals and legal assistants may find it essential for drafting and filing purposes, ensuring compliance with local regulations and protecting client interests. Overall, this contract serves as a fundamental tool in managing construction projects efficiently, emphasizing clarity and clarity in the contractor-owner relationship.

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Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and “Minimum Contract Value “means 10% of the Maximum Contract Value.