Cost Plus Construction Contract Template

This agreement is made on date between company hereafter company and contractor hereafter contractor regarding the project name hereafter project construction project. Cost plus construction contract owner builder 6 10. The project will begin on datethe contractor will complete the project no later than date.

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The owner and the contractor acknowledge that the owner will pay a sum of written dollars 00000000 upon signing of this contract and before construction begins as.

Cost plus construction contract template. Contract period the building works must reach the stage of practical completion no more than weeks after the contract period commenced under clause 8 as extended under clause 9. The writer was involved in one such cost plus contract where the owner kept increasing the scope of the work and the 250000 initial ballpark figure ballooned to 950000. Cost plus contract v 1 owner waives any claims as against the contractor for damages to the project caused by soil conditions that were not disclosed by or represented on any soil test delivered to the contractor under this paragraph or that were not disclosed as the result of the owners failure to obtain a soil test for the property. The enclosed document is a cost plus fee contract the contractor under the agreement receives compensation equal to his or her expenses plus a bonus fee when the agreed on work is.

Cost of the work and builders fee. The cost of the work shall mean all costs incurred by the builder in the performance and supervision of the work. The builders fee is a sum equal to percent of the cost of the work or choose one. Cost plus construction contract.

The project will includeincorporate the following elements and restrictions. Pre construction estimates for construction costs and coordination are approximately written dollars 00000000 closing costs shall be paid by the owner. If there is no contract period then the builder must complete the building works within a. Even with constant weekly updates to apprise the owner of the added cost of replacing all light fixtures in a 40000 square foot store and replacing all of the flooring.