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Cost Plus Construction Agreement
"I need a Cost Plus Construction Agreement for a new hospital development project starting in March 2025, with specific provisions for medical facility compliance and phased completion across multiple buildings, including a 12% contractor fee."
1. Parties: Identification and details of the Owner and Contractor
2. Background: Context of the agreement and basic project information
3. Definitions: Key terms used throughout the agreement
4. Scope of Work: Detailed description of construction services to be provided
5. Cost Plus Fee Structure: Definition of costs and calculation of contractor's fee
6. Payment Terms: Payment schedule, invoicing requirements, and payment procedures
7. Project Timeline: Construction schedule, milestones, and completion dates
8. Changes and Change Orders: Procedures for modifications to scope, cost, or timeline
9. Insurance and Indemnification: Required insurance coverage and indemnification obligations
10. Termination: Conditions and procedures for contract termination
1. Performance Bonds: Bond requirements for larger projects or when required by law
2. Liquidated Damages: Predetermined damages for delay or non-performance when specific completion dates are critical
3. Dispute Resolution: Mediation and arbitration procedures when parties prefer alternative dispute resolution
4. Environmental Compliance: Specific environmental requirements for projects with significant environmental impact
1. Schedule A - Project Specifications: Detailed technical specifications and drawings
2. Schedule B - Cost Schedule: Breakdown of allowable costs and markup calculations
3. Schedule C - Project Timeline: Detailed construction schedule and milestones
4. Schedule D - Insurance Requirements: Specific insurance coverage requirements and limits
5. Schedule E - Key Personnel: List of key project personnel and their roles
6. Schedule F - Forms and Procedures: Standard forms for change orders, progress payments, etc.
7. Schedule G - Subcontractor Requirements: Requirements and procedures for subcontractor engagement
Authors
Allowable Costs
Applicable Laws
Architect/Engineer
As-Built Documents
Certificate of Substantial Completion
Change Order
Construction Documents
Construction Schedule
Contract Documents
Contract Price
Contract Time
Contractor
Contractor's Fee
Cost of the Work
Defective Work
Drawings
Effective Date
Final Completion
Force Majeure
General Conditions
Guaranteed Maximum Price
Hazardous Materials
Insurance Requirements
Material Breach
Non-Allowable Costs
Notice to Proceed
Owner
Owner's Representative
Project
Project Manager
Project Site
Punch List
Record Documents
Schedule of Values
Specifications
Subcontractor
Substantial Completion
Supplier
Unit Prices
Work
Work Product
Cost Determination
Fee Structure
Payment Terms
Change Orders
Time and Schedule
Construction Methods
Materials and Equipment
Quality Control
Health and Safety
Insurance
Bonds and Security
Warranties
Indemnification
Intellectual Property
Confidentiality
Force Majeure
Suspension and Termination
Dispute Resolution
Subcontractors
Site Access and Conditions
Permits and Compliance
Record Keeping
Audit Rights
Environmental Protection
Labor Requirements
Project Management
Completion and Acceptance
Defects Liability
Assignment and Succession
Notices
Governing Law
Entire Agreement
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