Cost-Plus Contract Fundamentals
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Understand the various aspects of cost-plus contracting as well as common issues that may arise.This topic will provide a guide to when and how to use cost-plus contracts for construction projects. The information provided will include bidder identification, solicitation methods, evaluation criteria and methods, trade and subcontractor issues, administration of cost-plus contracts, payment issues, risk allocation issues and post-construction auditing. We will then look at key contract provisions associated with cost-plus contracting, how to manage costs in cost-plus contracts and finally how to protect ownership from unscrupulous contractors.
AuthorsCarol A. Sigmond, Porzio Bromberg & Newman P.C.
What Is a Cost-Plus Contract?
• Best Use
• Significant Features
Administration of Cost-Plus Contracts
• Role of the Architect
• Change Orders
• Interim Audits
Disputes Under Cost-Plus Contracts
• Auditing the Project
• Auditing the Contract
Cost-Plus Contracts and Fraud Issues
• Fighting Collusion and Kickbacks
• Bid Rigging and Collusion
• Fraud Examples
The Future of Cost-Plus Contracts
• Transparency, Scrutiny, and Litigation
• Increasing Criminalization of the Construction Industry
• Practical Considerations