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 Florida: scope of work, work site, warranty and insurance.
Orange Florida Construction Contract Cost Plus or Fixed Fee refers to the two primary pricing structures used in construction contracts in the Orange, Florida area. These pricing structures determine how the contractor will be compensated for their services. 1. Cost Plus Contract: A Cost Plus Contract, also known as a cost-reimbursable contract, is a pricing structure where the contractor is reimbursed for the actual costs of the project, including labor, materials, equipment, and overheads. In addition to the actual costs, the contractor receives a predetermined fee or percentage of the total project costs as profit. This type of contract is popular when the project scope is uncertain, making it difficult to accurately estimate project costs at the outset. Keywords: Cost-plus contract, cost-reimbursable contract, actual costs, predetermined fee, project scope uncertainty, project costs estimation. 2. Fixed Fee Contract: A Fixed Fee Contract, also known as a lump sum contract, is a pricing structure where the contractor agrees to complete the project for a fixed, predetermined amount. This fixed fee is agreed upon before the start of the project and includes all anticipated costs. The contractor is responsible for managing costs within the fixed fee, and any cost overruns are borne by the contractor. This type of contract is common when project scope, timelines, and costs are well-defined and easily estimable. Keywords: Fixed fee contract, lump sum contract, predetermined amount, anticipated costs, cost management, cost overruns, well-defined project scope, project timelines. In addition to these primary contract types, there may be variations or hybrid contracts that combine elements of both Cost Plus and Fixed Fee structures, depending on the specific needs of the project and the preferences of the parties involved. Keywords: Hybrid contract, combined pricing structure, project-specific needs, contract variations. It is essential for both the contractor and the client to carefully review and understand the terms and conditions of the chosen contract type to ensure both parties are adequately protected and compensated throughout the construction process. Prior to entering into any contract, it is advisable to consult with legal professionals experienced in construction law to ensure compliance with applicable regulations and to address any specific concerns or requirements unique to the Orange, Florida area. Keywords: Contract terms and conditions, legal consultation, construction law, compliance, client protection, contractor compensation, project-specific concerns, Orange, Florida construction regulations.Orange Florida Construction Contract Cost Plus or Fixed Fee refers to the two primary pricing structures used in construction contracts in the Orange, Florida area. These pricing structures determine how the contractor will be compensated for their services. 1. Cost Plus Contract: A Cost Plus Contract, also known as a cost-reimbursable contract, is a pricing structure where the contractor is reimbursed for the actual costs of the project, including labor, materials, equipment, and overheads. In addition to the actual costs, the contractor receives a predetermined fee or percentage of the total project costs as profit. This type of contract is popular when the project scope is uncertain, making it difficult to accurately estimate project costs at the outset. Keywords: Cost-plus contract, cost-reimbursable contract, actual costs, predetermined fee, project scope uncertainty, project costs estimation. 2. Fixed Fee Contract: A Fixed Fee Contract, also known as a lump sum contract, is a pricing structure where the contractor agrees to complete the project for a fixed, predetermined amount. This fixed fee is agreed upon before the start of the project and includes all anticipated costs. The contractor is responsible for managing costs within the fixed fee, and any cost overruns are borne by the contractor. This type of contract is common when project scope, timelines, and costs are well-defined and easily estimable. Keywords: Fixed fee contract, lump sum contract, predetermined amount, anticipated costs, cost management, cost overruns, well-defined project scope, project timelines. In addition to these primary contract types, there may be variations or hybrid contracts that combine elements of both Cost Plus and Fixed Fee structures, depending on the specific needs of the project and the preferences of the parties involved. Keywords: Hybrid contract, combined pricing structure, project-specific needs, contract variations. It is essential for both the contractor and the client to carefully review and understand the terms and conditions of the chosen contract type to ensure both parties are adequately protected and compensated throughout the construction process. Prior to entering into any contract, it is advisable to consult with legal professionals experienced in construction law to ensure compliance with applicable regulations and to address any specific concerns or requirements unique to the Orange, Florida area. Keywords: Contract terms and conditions, legal consultation, construction law, compliance, client protection, contractor compensation, project-specific concerns, Orange, Florida construction regulations.
