So, You Think You Have a Cost-Plus Contract? (Contributed by Christopher F. Burger – 06/2005) any contracts for construction require typically one of the two primary bones of compensation to be paid to the contractor for the contention on a project, prudence would dictate costs of the work performed plus an amount equal disclosure prior to commencing the “new” work. to either a percentage or a flat amount. Agreements Such notification can become more complicated if which require the payment of as-yet-unknown costs the agreement fails to exclude form language ...
CONTRACTS SOLD AT MASTER BUILDERS ACT RESIDENTIAL CONTRACTS ACT Home Building Contract This is a lump sum contract for residential building work in the ACT. BC4 NSW Home Building Contract Lump sum contract for new houses, major residential renovations or small multi unit developments with no architect supervision. Cost Plus Residential Head contract for work undertaken on a cost plus fixed fee or percentage margin basis. Minor Works ACT This contract is suitable for works where the value of the work is less than or in the region of $50,000. Two copies of this contract must be issued and ...
Guidance on Using Incentive and Other Contract Types March 2016 Table of Contents Page 4 - 5 Background Contract Type as an Element of Overall Compensation Contract Performance Risk Page 5 - 7 Market Risk Factors in Selection of Contract Type Uncertainties of Performance Page 7-8 Contract Types Difference Between Fixed-Price and Cost-Reimbursement Contracts Page 9-12 Cost-Reimbursement Type Contracts Cost Contracts Cost-Sharing Contracts Cost-Plus-Fixed-Fee-Contracts Page 12-16 Fixed-Price Type Contracts Firm-Fixed Price Contracts Increased Profit Percentage Realized as an Incentive in FFP Contracts Fixed-Price Contracts with Economic Price Adjustment Fixed-Price Contracts with Prospective Price Redetermination Fixed-Ceiling-Price Contracts with Retroactive Price Redetermination ...
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