Idaho Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project

• Category: Construction - Contractors
• State: Multi-State
• Control #: US-0056BG
• Format: Word; Rich Text

Description

A Construction Management Agreement is a contract drafted and signed by a construction foreman and the property owner. It allows each to establish roles and responsibilities, deadlines, wages and the project specifics. The Idaho Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project is a legal document that outlines the responsibilities and expectations of both parties involved in a construction project. This agreement sets forth the terms and conditions under which the construction manager will provide services to the owner. Keyword: Idaho Agreement In Idaho, there are different types of agreements between the owner and construction manager for overseeing a construction project. They include: 1. Cost-Plus Agreement: In this type of agreement, the construction manager is reimbursed for the actual cost of materials, labor, and other project expenses, plus an agreed-upon percentage or fee for their services. This agreement provides transparency for the owner regarding project costs. 2. Lump Sum Agreement: Under this agreement, the construction manager agrees to complete the project for a fixed lump sum price agreed upon by both parties. The owner pays the construction manager the agreed amount, regardless of any cost overruns or savings. 3. Guaranteed Maximum Price (GMP) Agreement: This type of agreement sets a maximum price for the project, which the construction manager guarantees will not be exceeded. The construction manager takes on the risk of cost overruns and seeks to achieve savings on behalf of the owner. 4. Time and Materials Agreement: This agreement reimburses the construction manager for the actual cost of labor, materials, and equipment used, and adds an agreed-upon markup for their services. It allows for flexibility in project scope and changes. 5. Unit Price Agreement: This agreement establishes a price per unit of work, such as per square foot or linear foot. The construction manager is paid based on the quantities of work completed, as determined by the agreed-upon unit prices. These different types of agreements allow owners and construction managers to choose the most suitable contract structure for their specific project needs and risk allocation preferences in Idaho. The details of each agreement may vary, but they all serve to establish a clear understanding between the owner and construction manager, fostering successful project completion while mitigating potential disputes.

The Idaho Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project is a legal document that outlines the responsibilities and expectations of both parties involved in a construction project. This agreement sets forth the terms and conditions under which the construction manager will provide services to the owner. Keyword: Idaho Agreement In Idaho, there are different types of agreements between the owner and construction manager for overseeing a construction project. They include: 1. Cost-Plus Agreement: In this type of agreement, the construction manager is reimbursed for the actual cost of materials, labor, and other project expenses, plus an agreed-upon percentage or fee for their services. This agreement provides transparency for the owner regarding project costs. 2. Lump Sum Agreement: Under this agreement, the construction manager agrees to complete the project for a fixed lump sum price agreed upon by both parties. The owner pays the construction manager the agreed amount, regardless of any cost overruns or savings. 3. Guaranteed Maximum Price (GMP) Agreement: This type of agreement sets a maximum price for the project, which the construction manager guarantees will not be exceeded. The construction manager takes on the risk of cost overruns and seeks to achieve savings on behalf of the owner. 4. Time and Materials Agreement: This agreement reimburses the construction manager for the actual cost of labor, materials, and equipment used, and adds an agreed-upon markup for their services. It allows for flexibility in project scope and changes. 5. Unit Price Agreement: This agreement establishes a price per unit of work, such as per square foot or linear foot. The construction manager is paid based on the quantities of work completed, as determined by the agreed-upon unit prices. These different types of agreements allow owners and construction managers to choose the most suitable contract structure for their specific project needs and risk allocation preferences in Idaho. The details of each agreement may vary, but they all serve to establish a clear understanding between the owner and construction manager, fostering successful project completion while mitigating potential disputes.