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North Carolina Construction Contract Cost Plus or Fixed Fee

North Carolina Construction Contract Cost Plus or Fixed Fee 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, and procedures for changes to the project. The contract also addresses issues related to late payments, destruction or damage to the project, assignment of the contract, governing law, attorney fees, performance standards, and warranty provisions.

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Click ‘Get Form’ to open the North Carolina Construction Contract in our editor.
Begin by filling in the Contractor and Owner details, including names and addresses, in the designated fields at the top of the form.
In the 'SCOPE OF WORK' section, clearly describe the project specifications and materials required. Ensure that both parties agree on this description.
Specify the 'WORK SITE' address accurately to avoid any confusion regarding where the project will take place.
Set a timeline for completion in the 'TIME OF COMPLETION' section, noting start and end dates.
Choose between 'COST PLUS' or 'FIXED FEE' payment structures in the 'CONTRACT PRICE' section, entering relevant amounts as needed.
Review all sections for accuracy before saving your changes. Utilize our platform's features to sign and share the document securely.

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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?

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 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.