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North Carolina Construction Contract Cost Plus or Fixed Fee

Cost Plus Contract

Name: North Carolina Construction Contract Cost Plus or Fixed Fee
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.73 (274 reviews)

Category:

North Carolina Construction - Contractors

State:

North Carolina

Control #:

NC-00462

Format:

Instant download

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Description What Is A Cost Plus Building Contract

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 State of North Carolina: scope of work, work site, warranty and insurance.

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Cost Plus Percentage Contract Template Form Rating

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What Do Builders Charge For Cost Plus Contracts Form popularity

Cost Plus Construction Contract Example Other Form Names

Sample Construction Contract Simple Construction Agreement Format Cost Plus Contract Construction Building Contract Template Sample Cost Plus Construction Contract Cost Plus Construction Cost Plus Fee

A Fixed Price Contract Is An Example Of FAQ

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%.

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 fixed price contract sets a total price for all construction-related activities during a project. Many fixed price contracts include benefits for early termination and penalties for a late termination to give the contractors incentives to ensure the project is completed on time and within scope.

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.

A cost plus percentage of cost contract or CPPC is a cost reimbursement contract containing some element that obligates the non-state entity to pay the contractor an amount, undetermined at the time the contract was made and to be incurred in the future, based on a percentage of future costs.

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.

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.

A fixed-price contract is a type of contract where the payment amount does not depend on resources used or time expended. This is opposed to a cost-plus contract, which is intended to cover the costs with additional profit made.

Cost Plus Contract

Description What Is A Cost Plus Building Contract