Miami-Dade Florida is a county located in the southeastern part of the state of Florida, United States. It is known for its vibrant city life, beautiful beaches, and diverse culture. Within Miami-Dade County, there are various types of contracts for construction of apartment buildings with financing by contractors. Some of these contracts include: 1. Fixed-Price Contract: This type of contract entails a predetermined and fixed price for the construction project. The contractor agrees to complete the apartment building within a specified budget and timeframe. 2. Cost-Plus Contract: In a cost-plus contract, the contractor is reimbursed for the actual costs of construction, including materials, labor, and overhead expenses. Additionally, the contractor receives an agreed-upon fee or percentage of the total project cost to cover their profit and overhead. 3. Lump Sum Contract: Also known as a stipulated-sum contract, a lump sum contract involves the contractor providing the owner with a single fixed sum for the entire construction project. The sum includes the cost of labor, materials, equipment, and any other associated expenses. 4. Design-Build Contract: A design-build contract is a comprehensive agreement where a single entity, typically a contractor or a construction company, is responsible for both the design and construction of the apartment building. This contract approach streamlines the process as it allows for faster decision-making and improved collaboration between design and construction teams. 5. Construction Management Contract: Under this arrangement, the contractor is hired as a construction manager to oversee the entire construction project. The construction manager works closely with the owner, architects, and subcontractors to ensure the successful completion of the apartment building within the agreed-upon budget and schedule. 6. Turnkey Contract: In a turnkey contract, the contractor takes full responsibility for the entire project, from conception to completion. This includes securing financing, designing, constructing, and ultimately delivering a finished apartment building ready for occupancy to the owner. When engaging in any Miami-Dade Florida contract for construction of an apartment building with financing by a contractor, it is crucial to thoroughly review the terms and conditions, scope of work, payment schedules, performance guarantees, change orders, and dispute resolution procedures. Seeking legal advice is highly recommended ensuring all parties involved are protected and understand their rights and responsibilities throughout the construction process.
Miami-Dade Florida Contract for Construction of Apartment Building with Financing by Contractor
Category:
State:
Multi-State
County:
Miami-Dade
Control #:
US-13210BG
Format:
Word;
Rich Text
Instant download
Description
In this Agreement, the contractor for the construction of a building is also arranging the financing needed for the costs of building the building.
Miami-Dade Florida is a county located in the southeastern part of the state of Florida, United States. It is known for its vibrant city life, beautiful beaches, and diverse culture. Within Miami-Dade County, there are various types of contracts for construction of apartment buildings with financing by contractors. Some of these contracts include: 1. Fixed-Price Contract: This type of contract entails a predetermined and fixed price for the construction project. The contractor agrees to complete the apartment building within a specified budget and timeframe. 2. Cost-Plus Contract: In a cost-plus contract, the contractor is reimbursed for the actual costs of construction, including materials, labor, and overhead expenses. Additionally, the contractor receives an agreed-upon fee or percentage of the total project cost to cover their profit and overhead. 3. Lump Sum Contract: Also known as a stipulated-sum contract, a lump sum contract involves the contractor providing the owner with a single fixed sum for the entire construction project. The sum includes the cost of labor, materials, equipment, and any other associated expenses. 4. Design-Build Contract: A design-build contract is a comprehensive agreement where a single entity, typically a contractor or a construction company, is responsible for both the design and construction of the apartment building. This contract approach streamlines the process as it allows for faster decision-making and improved collaboration between design and construction teams. 5. Construction Management Contract: Under this arrangement, the contractor is hired as a construction manager to oversee the entire construction project. The construction manager works closely with the owner, architects, and subcontractors to ensure the successful completion of the apartment building within the agreed-upon budget and schedule. 6. Turnkey Contract: In a turnkey contract, the contractor takes full responsibility for the entire project, from conception to completion. This includes securing financing, designing, constructing, and ultimately delivering a finished apartment building ready for occupancy to the owner. When engaging in any Miami-Dade Florida contract for construction of an apartment building with financing by a contractor, it is crucial to thoroughly review the terms and conditions, scope of work, payment schedules, performance guarantees, change orders, and dispute resolution procedures. Seeking legal advice is highly recommended ensuring all parties involved are protected and understand their rights and responsibilities throughout the construction process.
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