Cost Plus Fee Contract Example In Wayne
Category:
State:
Multi-State
County:
Wayne
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Fee Contract example in Wayne serves as a comprehensive legal framework for construction projects, detailing the responsibilities of both the contractor and the owner. It specifies the scope of work, work site, permits, soil conditions, and insurance requirements, ensuring that all parties are aware of their obligations. Key features include a clear outline of payment terms, with an option for a cost plus fee structure where the owner pays the contractor for actual costs plus a predetermined fee. This flexibility can help address unforeseen expenses during construction. The form facilitates modifications to the project through 'Change Orders,' allowing the owner to adapt the project scope while controlling costs. The document also stipulates late payment penalties and warranties for construction defects. Its clarity and structured format make it accessible to a broad audience, including attorneys, owners, partners, associates, paralegals, and legal assistants, providing essential guidance on construction contract management.
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