Construction Contract Cost Plus or Fixed Fee - Kentucky 2026

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by filling in the Contractor and Owner details, including names and addresses, in the designated fields.
  3. In the 'SCOPE OF WORK' section, clearly describe the project specifications and attach any relevant drawings or documents.
  4. Specify the 'WORK SITE' address where the construction will take place, ensuring accuracy for legal purposes.
  5. Set a timeline for project commencement and completion in the 'TIME OF COMPLETION' section.
  6. Indicate whether you are using a 'COST PLUS' or 'FIXED FEE' payment structure and fill in the corresponding amounts.
  7. Review all sections for completeness and accuracy before saving your document.

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Businesses should use cost-plus contracts when the projects scope or costs are difficult to estimate up front or when flexibility and transparency are important.
Most contracts have a cost-plus fee scale of 10-25%. A contractor would use takeoff software to calculate the materials costs, but they wouldnt need to be exact. Some companies use a cost-plus-fixed-fee (CPFF) instead of a percentage.

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