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District of Columbia Construction Contract Cost Plus or Fixed Fee

Cost Plus Fixed Fee Sample

Name: District of Columbia Construction Contract Cost Plus or Fixed Fee
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.82 (370 reviews)

Category:

District of Columbia Construction - Contractors

State:

District of Columbia

Control #:

DC-00462

Format:

Instant download

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Description Construction Contract Cost Plus

This form is a Construction Contract that may be executed with either a cost plus or fixed fee payment arrangement. The form contains the following additional subject matters and complies with the laws of the District of Colubmia: scope of work, work site, warranty and insurance.

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Cost Plus Fee Template Other Form Names

Cost Plus Fixed Cost Plus Fixed Fee Contract Plus Fixed Fee Plus Fixed Fee Contract

FAQ

A cost-plus contract is an agreement to reimburse a company for expenses incurred plus a specific amount of profit, usually stated as a percentage of the contract's full price.

Cost-plus-fixed-fee tends to me more advantageous to the buyer as opposed to the seller as it caps the fee and the fee will not swell or grow based on the future expansion or fluctuations of the budget. However, it also can protect the seller because, in the event the budget tightens, it provides a fixed fee.

A cost-plus fixed fee contract is a specific type of contract wherein the contractor is paid for the normal expenses for a project, plus an additional fixed fee for their services.

Cost Plus Contract Disadvantages For the buyer, the major disadvantage of this type of contract is the risk for paying much more than expected on materials. The contractor also has less incentive to be efficient since they will profit either way.

A cost-plus-fixed-fee contract is a cost-reimbursement contract that provides for payment to the contractor of a negotiated fee that is fixed at the inception of the contract. The fixed fee does not vary with actual cost, but may be adjusted as a result of changes in the work to be performed under the contract.

A Cost-Based Pricing Example Suppose that a company sells a product for $1, and that $1 includes all the costs that go into making and marketing the product. The company may then add a percentage on top of that $1 as the "plus" part of cost-plus pricing. That portion of the price is the company's profit.

In the cost plus a percentage arrangement, the contractor bills the client for his direct costs for labor, materials, and subs, plus a percentage to cover his overhead and profit. Markups might range anywhere from 10% to 25%.

A cost-plus contract, also known as a cost-reimbursement contract, is a form of contract wherein the contractor is paid for all of their construction-related expenses. Plus, the contractor is paid a specific agreed-upon amount for profit.

Cost Plus Fixed Fee Sample

Description Construction Contract Cost Plus

Cost Fixed Fee Related forms

How to fill out District Of Columbia Construction Contract Cost Plus Or Fixed Fee?

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Cost Plus Fee Template Other Form Names

FAQ

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