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Construction Contract Cost Plus or Fixed Fee - Illinois 2026

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This document is a construction contract between a Contractor and an Owner, outlining the terms and conditions for the completion of a construction project. It details the scope of work, time of completion, payment structure, responsibilities regarding permits and soil conditions, insurance requirements, procedures for changes to the scope of work, and provisions for late payments and contract termination. Additionally, it includes clauses on warranty, assignment, interpretation of documents, and cancellation rights for the Owner.

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

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What percentage do contractors charge for cost-plus?

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.

When should a cost-plus fee contract be used?

Benefits of a cost-plus fixed-fee contract They allow you to explore and adjust the scope, unlike firm-fixed-price contracts. CPFF contracts foster better communication between clients and contractors, especially when both parties must work closely to guarantee contract performance.

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

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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