Chicago Illinois Construction Management Agreement

• Category: Construction - Management
• State: Multi-State
• City: Chicago
• Control #: US-02299BG
• Format: Word; PDF; Rich Text

Description

Construction Management Agreement A Chicago Illinois Construction Management Agreement is a legally binding contract that outlines the terms and conditions between a property owner or developer and a construction management company in Chicago, Illinois. This agreement serves to define the roles, responsibilities, and obligations of each party involved in a construction project. Keywords: Chicago Illinois, Construction Management Agreement, property owner, developer, construction management company, contract, roles, responsibilities, obligations, construction project. There are different types of Chicago Illinois Construction Management Agreements, including: 1. Agency Construction Management Agreement: This type of agreement involves the construction management company acting as an agent on behalf of the property owner or developer. The construction management company is responsible for managing and overseeing the entire project from start to finish. 2. At-Risk Construction Management Agreement: In this type of agreement, the construction management company takes on additional responsibilities and risks by also assuming the role of a general contractor. They are accountable for the construction process, as well as managing subcontractors and handling any potential cost overruns. 3. Construction Management "Advisory" Agreement: This type of agreement allows the property owner or developer to retain control over the construction process while seeking the advice and expertise of the construction management company. The company provides consultation, guidance, and expertise throughout the project, but the property owner retains decision-making authority. 4. Guaranteed Maximum Price (GMP) Construction Management Agreement: This agreement sets a maximum price for the construction project, as agreed upon by the property owner and the construction management company. The construction management company takes responsibility for completing the project within this agreed-upon budget, providing cost certainty to the property owner. 5. Professional Construction Management Agreement: This type of agreement allows the construction management company to provide professional services such as project planning, cost estimation, scheduling, and quality control. They act as consultants rather than assuming direct control over the construction process. Overall, a Chicago Illinois Construction Management Agreement is a vital document that regulates and defines the working relationship between the property owner or developer and the construction management company. By entering into this agreement, both parties can ensure clarity, accountability, and successful completion of construction projects in Chicago, Illinois.

A Chicago Illinois Construction Management Agreement is a legally binding contract that outlines the terms and conditions between a property owner or developer and a construction management company in Chicago, Illinois. This agreement serves to define the roles, responsibilities, and obligations of each party involved in a construction project. Keywords: Chicago Illinois, Construction Management Agreement, property owner, developer, construction management company, contract, roles, responsibilities, obligations, construction project. There are different types of Chicago Illinois Construction Management Agreements, including: 1. Agency Construction Management Agreement: This type of agreement involves the construction management company acting as an agent on behalf of the property owner or developer. The construction management company is responsible for managing and overseeing the entire project from start to finish. 2. At-Risk Construction Management Agreement: In this type of agreement, the construction management company takes on additional responsibilities and risks by also assuming the role of a general contractor. They are accountable for the construction process, as well as managing subcontractors and handling any potential cost overruns. 3. Construction Management "Advisory" Agreement: This type of agreement allows the property owner or developer to retain control over the construction process while seeking the advice and expertise of the construction management company. The company provides consultation, guidance, and expertise throughout the project, but the property owner retains decision-making authority. 4. Guaranteed Maximum Price (GMP) Construction Management Agreement: This agreement sets a maximum price for the construction project, as agreed upon by the property owner and the construction management company. The construction management company takes responsibility for completing the project within this agreed-upon budget, providing cost certainty to the property owner. 5. Professional Construction Management Agreement: This type of agreement allows the construction management company to provide professional services such as project planning, cost estimation, scheduling, and quality control. They act as consultants rather than assuming direct control over the construction process. Overall, a Chicago Illinois Construction Management Agreement is a vital document that regulates and defines the working relationship between the property owner or developer and the construction management company. By entering into this agreement, both parties can ensure clarity, accountability, and successful completion of construction projects in Chicago, Illinois.