We use cookies to improve security, personalize the user experience, enhance our marketing activities (including cooperating with our marketing partners) and for other business use.
Click "here" to read our Cookie Policy. By clicking "Accept" you agree to the use of cookies. Read less
The Cost Plus Construction Contract with Guaranteed Maximum Price in Wayne is a legal document that establishes the agreement between a contractor and an owner for the construction of a project. This form outlines the scope of work to be performed, the work site location, and the responsibility for obtaining necessary permits. It includes provisions for changes in the scope of work through written change orders and how costs will be handled. Importantly, it specifies that the owner's payment to the contractor will include actual costs plus a guaranteed maximum price, thereby providing cost predictability. The document includes clauses related to late payment, defaults, insurance responsibilities, and warranty terms. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it offers a comprehensive framework for managing construction projects while mitigating risks associated with unexpected costs. It allows parties to clearly outline their obligations, protects against potential disputes, and ensures compliance with local regulations.
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.
Cost Plus Construction Contract With Guaranteed Maximum Price In Wayne Related Searches
Guaranteed maximum price construction contract
Guaranteed Maximum Price contract PDF
Guaranteed Maximum Price contract example
Guaranteed maximum price vs lump sum
Guaranteed maximum price contract advantages and disadvantages
what are some of the potential issues with a gmp contract?