South Dakota Construction Contract Cost Plus or Fixed Fee
About this form
The Construction Contract Cost Plus or Fixed Fee is a legal document that outlines the agreement between an owner and a contractor for a construction project. This form can be utilized with either a cost-plus payment arrangementâwhere the owner pays for actual construction costs plus a feeâor a fixed fee structure where the contractor agrees to a set price. This form ensures both parties have a clear understanding of the project's scope, work site, warranties, and insurance requirements, making it an essential tool for construction projects in South Dakota.
Main sections of this form
- Work Site: Specifies the location of the construction work.
- Permits: Covers responsibility for obtaining necessary permits and approvals.
- Insurance: Outlines required insurance types for liability and damages.
- Changes to Scope of Work: Details how modifications can be made through written Change Orders.
- Contract Price: Describes the payment arrangements based on cost-plus or fixed fee.
- Warranties: Limits the contractor's liability for workmanship defects to one year.
Common use cases
Use this form when entering into a construction agreement where payment will be made based on either actual costs plus an additional fee or a predetermined fixed amount. This form is particularly useful for projects where the scope may evolve, requiring flexibility in managing costs and responsibilities between the contractor and owner.
Who should use this form
- Homeowners looking to hire contractors for construction or renovation projects.
- Contractors who want to ensure all terms are agreed upon formally with the client.
- Real estate developers managing multiple construction projects with varying scopes.
How to complete this form
- Identify the parties involved: Fill in names and contact information for the owner and contractor.
- Specify the work site: Insert the property's address where the construction will take place.
- Outline the scope of work: Clearly define the construction tasks to be performed.
- Enter the contract price: Indicate whether the payment will be cost-plus or a fixed fee.
- Include any necessary permits: Document which permits the contractor must secure before starting.
- Sign and date the contract: Ensure both parties sign to make the agreement legally binding.
Does this form need to be notarized?
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Mistakes to watch out for
- Failing to specify a clear scope of work, leading to misunderstandings during the project.
- Not obtaining required permits before starting construction.
- Leaving payment terms vague, which can cause disputes later.
Why use this form online
- Convenience: Easily download and complete the form from anywhere.
- Editability: Make necessary adjustments to suit your specific project needs.
- Reliability: Ensure legal compliance with professional-grade templates drafted by licensed attorneys.
