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Construction Contract Cost Plus or Fixed Fee - Tennessee 2025

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This document is a Construction Contract between a Contractor and an Owner, outlining the terms and conditions for a construction project. It details the scope of work, time of completion, payment structure, responsibilities regarding permits and soil conditions, insurance requirements, change orders, and warranties. The contract emphasizes the need for written agreements for any modifications and includes provisions for late payments, damages, and legal interpretations. Additionally, it provides notice to the Owner about potential liens under Tennessee state law.

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What is the percentage of cost-plus in construction contracts?

A CPPC contract is one that is structured to pay the contractor his actual costs incurred on the contract plus a fixed percent for profit or overhead (that is not audited/adjusted) and which is applied to actual costs incurred.

When to use cost-plus fixed fee?

This contract is often used when the scope of the work cannot be precisely defined at the time of the agreement, and there are doubts about potential changes and variations in the course of the project. In a CPFF contract, the buyer agrees to reimburse the supplier for the allowable costs of the project.

What are the disadvantages of a cost-plus fee contract?

What are the advantages and disadvantages of a cost-plus contract? Cost plus construction contracts offer advantages like transparency, flexibility, and reduced contractor risk. They also come with drawbacks, including uncertain pricing, a higher administrative workload, and a greater risk of disputes.

What is the margin on a cost-plus contract?

For cost-plus contracts (where the client agrees to pay all costs, plus a specific percentage margin to the builder), a common practice is costs plus 15 to 20 per cent margin, although there are some contracts which include a margin as small as 5 per cent. The builders margin may also be a fixed amount.

What percentage do contractors charge for cost-plus?

Many Cost-Plus Percentage Builders charge 20%30% for overhead costs. In the example above, if the cabinets come in 5K over budget and the plumbers come in 5K over budget, the client ends up spending an additional 12K the extra 2K being the builders fee.

cost plus construction contract template

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What is cost-plus percentage of cost contracts?

Typically, under this contract type, the amount the homeowner will have to pay will be the actual costs incurred by the contractor (e.g. the amount a building contractor pays for materials and to their subcontractors) plus a percentage of those costs, or an added fee, to cover the contractors overheads and profit.

What is the difference between a fixed price contract and a cost-plus contract?

A cost plus contract guarantees profit for the contractor. It is stated in the contract that the contractor will be reimbursed for all costs and still generate a profit. Conversely, a fixed price contract establishes a projects price beforehand.

Construction Contract Cost Plus or Fixed Fee - Tennessee 2025

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What is the percentage of cost-plus in construction contracts?

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