Cost Plus Construction Contract Sample Clauses

Cost Plus Construction Contract. The contractor is paid based on the actual cost of the project including direct and indirect costs plus specific fee. This fee could be a fixed fee or percentage of costs. All risks are assigned to the owner and he gets involved with the contractor in the management of the project. The contractor has no risk in case of increasing the cost of the project, also there isn’t any incentive for early finish. This type of contract is ideal when the project scope is uncertain in the early stages of the project. The contractor can start the execution of the project before finishing the design. It is impossible to estimate the cost of the project before the construction has been finished.
Sample 1
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