Tennessee 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. A Tennessee Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project is a legal document that outlines the specific terms and conditions agreed upon by the owner of a construction project and a construction manager. This agreement serves as a guide for the construction manager in overseeing and managing the various aspects of the project, ensuring its successful completion. Keywords: Tennessee, agreement, owner, construction manager, services, overseeing, construction project. There are several types of Tennessee Agreements between Owner and Construction Manager for Services in Overseeing a Construction Project, depending on the specific needs and requirements of the project. Some common types include: 1. Lump Sum Agreement: This type of agreement establishes a fixed price for the construction manager's services. The lump sum agreement specifies the scope of work, schedule, and pricing structure, providing clarity and ensuring both parties are in agreement on the project's financial aspects. 2. Cost Plus Agreement: In this agreement, the construction manager is reimbursed for the actual costs incurred during the project, plus an agreed-upon fee or percentage. This type of agreement is suitable when the scope of work is difficult to define initially, and costs are likely to change throughout the project. 3. Guaranteed Maximum Price (GMP) Agreement: This agreement sets a maximum price that the owner will pay for the entire construction project. The construction manager is responsible for completing the project within the predetermined budget, and any savings from the agreed-upon maximum price may be shared with the owner. 4. Design-Build Agreement: In this type of agreement, the construction manager is responsible for both the design and construction of the project. This integrated approach ensures smooth coordination between the design and construction phases and can result in cost and time savings for the owner. Regardless of the type, a Tennessee Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project typically includes key provisions such as project scope, timeline, deliverables, responsibilities, payment terms, termination clauses, and dispute resolution mechanisms. It is essential for both parties to carefully review, negotiate, and understand the terms of the agreement before signing to ensure a successful and legally compliant construction project.

A Tennessee Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project is a legal document that outlines the specific terms and conditions agreed upon by the owner of a construction project and a construction manager. This agreement serves as a guide for the construction manager in overseeing and managing the various aspects of the project, ensuring its successful completion. Keywords: Tennessee, agreement, owner, construction manager, services, overseeing, construction project. There are several types of Tennessee Agreements between Owner and Construction Manager for Services in Overseeing a Construction Project, depending on the specific needs and requirements of the project. Some common types include: 1. Lump Sum Agreement: This type of agreement establishes a fixed price for the construction manager's services. The lump sum agreement specifies the scope of work, schedule, and pricing structure, providing clarity and ensuring both parties are in agreement on the project's financial aspects. 2. Cost Plus Agreement: In this agreement, the construction manager is reimbursed for the actual costs incurred during the project, plus an agreed-upon fee or percentage. This type of agreement is suitable when the scope of work is difficult to define initially, and costs are likely to change throughout the project. 3. Guaranteed Maximum Price (GMP) Agreement: This agreement sets a maximum price that the owner will pay for the entire construction project. The construction manager is responsible for completing the project within the predetermined budget, and any savings from the agreed-upon maximum price may be shared with the owner. 4. Design-Build Agreement: In this type of agreement, the construction manager is responsible for both the design and construction of the project. This integrated approach ensures smooth coordination between the design and construction phases and can result in cost and time savings for the owner. Regardless of the type, a Tennessee Agreement between Owner and Construction Manager for Services in Overseeing a Construction Project typically includes key provisions such as project scope, timeline, deliverables, responsibilities, payment terms, termination clauses, and dispute resolution mechanisms. It is essential for both parties to carefully review, negotiate, and understand the terms of the agreement before signing to ensure a successful and legally compliant construction project.