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 Georgia: scope of work, work site, warranty and insurance.
What is Atlanta Georgia Construction Contract Cost Plus or Fixed Fee? When embarking on a construction project in Atlanta, Georgia, it is essential to understand the different types of construction contracts available. Two common types are Cost Plus and Fixed Fee contracts. Let's explore them in detail: 1. Atlanta Georgia Cost Plus Construction Contracts: A Cost Plus contract in Atlanta, Georgia, is an agreement where the owner pays the actual costs of construction, in addition to a predetermined fee or percentage for the contractor's services. This type of contract ensures transparency as it allows the owner to witness all construction costs, including labor, materials, and other expenses, along with the contractor's fee. Cost Plus contracts are widely used in Atlanta for various construction projects, from residential homes to commercial buildings. Keywords: Atlanta construction contract, cost plus contract, construction costs, contractor's fee, transparency, labor, materials, residential construction, commercial construction. 2. Atlanta Georgia Fixed Fee Construction Contracts: In contrast to Cost Plus contracts, Fixed Fee contracts in Atlanta, Georgia, involve agreeing on a fixed price for the construction project. The contractor is responsible for completing the project within the predetermined budget, regardless of the actual costs incurred during construction. Fixed Fee contracts are often preferred when there is a good understanding of the project scope, and both parties have assessed potential risks. Atlanta's construction industry frequently adopts Fixed Fee contracts for larger-scale projects, such as infrastructure development or complex commercial ventures. Keywords: Atlanta construction contract, fixed fee contract, predetermined budget, project scope, construction costs, risks, infrastructure development, commercial construction. It is important to note that within these two categories, there may be variations or adaptations specific to Atlanta, Georgia construction projects.
