The Cost Plus Construction Agreement is designed for construction projects under Danish jurisdiction where the final costs cannot be accurately determined at the outset, or where flexibility in scope is required. This agreement type is particularly suitable for complex construction projects, renovation works, or projects with significant uncertainties. It establishes a transparent pricing mechanism where the contractor is reimbursed for actual costs plus an agreed markup, while incorporating Danish legal requirements, including compliance with Byggeloven (Danish Construction Act) and AB 18 principles. The document provides comprehensive coverage of cost verification procedures, project management requirements, quality control standards, and risk allocation, while ensuring compliance with Danish construction regulations and industry practices. It is commonly used in both private and public sector projects where traditional fixed-price contracts may not be suitable due to project complexity or uncertainty.
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Key Requirements PROMPT example:
Cost Plus Construction Agreement
1. Parties: Identification of the parties entering into the agreement, including full legal names, registration numbers, and addresses
2. Background: Context of the agreement, including project overview and parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement, including cost-plus specific terminology
4. Scope of Work: Detailed description of the construction work to be performed, including references to technical specifications
5. Contractor's Obligations: Primary responsibilities of the contractor, including quality standards, workmanship, and compliance requirements
6. Employer's Obligations: Primary responsibilities of the employer, including site access, permits, and information provision
7. Cost Plus Mechanism: Detailed explanation of the cost-plus pricing structure, including definition of costs, markup calculation, and payment terms
8. Cost Verification and Reporting: Procedures for tracking, reporting, and verifying costs, including documentation requirements
9. Project Timeline: Construction schedule, milestones, and completion dates
10. Changes and Variations: Process for handling changes to scope, including impact on costs and timeline
11. Quality Control: Quality assurance procedures, inspections, and acceptance criteria
12. Health and Safety: Safety requirements and responsibilities in accordance with Danish regulations
13. Insurance and Liability: Required insurance coverage and allocation of risks between parties
14. Termination: Grounds and procedures for contract termination by either party
15. Dispute Resolution: Procedures for resolving disputes, including reference to Danish law and jurisdiction
16. General Provisions: Standard legal provisions including notices, amendments, and governing law
1. Environmental Requirements: Specific environmental obligations and sustainability requirements, used when project has particular environmental focus or requirements
2. Design Responsibilities: Allocation of design responsibilities, used when contractor has design obligations
3. Financing Arrangements: Special provisions related to project financing, used when external financing is involved
4. Public Authority Requirements: Additional requirements for public projects, used when public entities are involved
5. Subcontracting: Rules and procedures for subcontracting, used when subcontracting is anticipated
6. Performance Guarantees: Specific performance guarantees and associated remedies, used for complex or high-value projects
7. Building Information Modeling (BIM): BIM requirements and protocols, used when BIM is part of the project
8. Force Majeure: Extended force majeure provisions, used when specific risk allocation is needed
1. Schedule 1 - Scope of Works: Detailed technical specifications and drawings
2. Schedule 2 - Cost Components: Detailed breakdown of allowable costs and calculation of markup
3. Schedule 3 - Project Timeline: Detailed construction schedule and milestone dates
4. Schedule 4 - Key Personnel: List of key personnel from both parties and their roles
5. Schedule 5 - Required Insurance: Detailed insurance requirements and coverage limits
6. Schedule 6 - Form of Cost Reports: Templates and procedures for cost reporting
7. Schedule 7 - Quality Management Plan: Detailed quality control procedures and requirements
8. Schedule 8 - Health and Safety Plan: Detailed safety procedures and requirements
9. Appendix A - Forms and Certificates: Standard forms for applications, certificates, and notices
10. Appendix B - Site Information: Site details, access points, and known conditions
Authors
Relevant legal definitions
Agreement
Actual Cost
Allowable Costs
Applicable Laws
Applicable Permits
Approved
Architect
As-Built Documents
Base Cost
Building Regulations
Certificate of Completion
Change Order
Commencement Date
Completion Date
Construction Documents
Construction Period
Construction Schedule
Contractor
Contractor's Fee
Contractor's Representative
Cost Plus Fee
Daily Records
Defects
Defects Liability Period
Design Documents
Employer
Employer's Representative
Environmental Requirements
Extension of Time
Final Account
Final Completion
Force Majeure
Good Industry Practice
Guaranteed Maximum Price
Health and Safety Plan
Insurance Requirements
Intellectual Property Rights
Key Personnel
Markup
Material Change
Milestone
Non-allowable Costs
Notice
Payment Certificate
Payment Period
Performance Standards
Project
Project Manager
Project Site
Quality Management Plan
Reasonable and Proper
Site Conditions
Specifications
Subcontractor
Substantial Completion
Technical Requirements
Time for Completion
Variation
Works
Working Day
Actual Cost
Allowable Costs
Applicable Laws
Applicable Permits
Approved
Architect
As-Built Documents
Base Cost
Building Regulations
Certificate of Completion
Change Order
Commencement Date
Completion Date
Construction Documents
Construction Period
Construction Schedule
Contractor
Contractor's Fee
Contractor's Representative
Cost Plus Fee
Daily Records
Defects
Defects Liability Period
Design Documents
Employer
Employer's Representative
Environmental Requirements
Extension of Time
Final Account
Final Completion
Force Majeure
Good Industry Practice
Guaranteed Maximum Price
Health and Safety Plan
Insurance Requirements
Intellectual Property Rights
Key Personnel
Markup
Material Change
Milestone
Non-allowable Costs
Notice
Payment Certificate
Payment Period
Performance Standards
Project
Project Manager
Project Site
Quality Management Plan
Reasonable and Proper
Site Conditions
Specifications
Subcontractor
Substantial Completion
Technical Requirements
Time for Completion
Variation
Works
Working Day
Clauses
Interpretation
Contractor's Obligations
Employer's Obligations
Cost Plus Mechanism
Payment Terms
Cost Verification
Documentation Requirements
Project Management
Construction Schedule
Site Access and Conditions
Materials and Workmanship
Quality Assurance
Health and Safety
Environmental Compliance
Variations
Extensions of Time
Force Majeure
Insurance
Indemnification
Intellectual Property
Confidentiality
Subcontracting
Performance Security
Warranties
Defects Liability
Completion and Handover
Suspension
Termination
Dispute Resolution
Governing Law
Assignment
Notices
Severability
Entire Agreement
Contractor's Obligations
Employer's Obligations
Cost Plus Mechanism
Payment Terms
Cost Verification
Documentation Requirements
Project Management
Construction Schedule
Site Access and Conditions
Materials and Workmanship
Quality Assurance
Health and Safety
Environmental Compliance
Variations
Extensions of Time
Force Majeure
Insurance
Indemnification
Intellectual Property
Confidentiality
Subcontracting
Performance Security
Warranties
Defects Liability
Completion and Handover
Suspension
Termination
Dispute Resolution
Governing Law
Assignment
Notices
Severability
Entire Agreement
Relevant Industries
Relevant Teams
Relevant Roles
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