Cost Plus Fixed Fee Contract for New Zealand

Cost Plus Fixed Fee Contract Template for New Zealand

This document is a comprehensive Cost Plus Fixed Fee Contract template designed for use in New Zealand, incorporating relevant provisions under New Zealand contract law, including the Contract and Commercial Law Act 2017 and the Construction Contracts Act 2002. It establishes a framework for reimbursing actual costs plus a predetermined fixed fee, with detailed provisions for cost verification, reporting requirements, and audit rights. The contract includes mechanisms for transparent cost tracking, clear definition of allowable expenses, and specific procedures for payment processing, while ensuring compliance with New Zealand's legal and regulatory requirements.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Cost Plus Fixed Fee Contract

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Cost Plus Fixed Fee Contract?

This Cost Plus Fixed Fee Contract is particularly suitable for projects or services in New Zealand where the exact scope or costs cannot be accurately predetermined, but a structured approach to cost reimbursement is required. It is commonly used in complex projects, research and development work, or situations where flexibility in scope is needed while maintaining cost control. The document provides comprehensive coverage of cost components, verification procedures, and payment mechanisms, while ensuring compliance with New Zealand legislation including the Contract and Commercial Law Act 2017, Fair Trading Act 1986, and relevant industry-specific regulations. It is designed to protect both parties' interests by combining the flexibility of cost reimbursement with the certainty of a fixed fee component.

What sections should be included in a Cost Plus Fixed Fee Contract?

1. Parties: Identification of the contracting parties, including full legal names and addresses

2. Background: Context of the agreement and brief description of the project or services

3. Definitions and Interpretation: Defined terms used throughout the agreement and rules of interpretation

4. Scope of Services: Detailed description of the services or works to be performed

5. Term and Commencement: Duration of the contract and conditions for commencement

6. Cost Components: Detailed breakdown of allowable costs, including direct costs, overhead, and other reimbursable expenses

7. Fixed Fee: Specification of the fixed fee amount, payment schedule, and any conditions affecting the fee

8. Payment Terms: Billing procedures, payment timing, and documentation requirements

9. Cost Verification and Audit Rights: Client's rights to verify costs and conduct audits

10. Contractor's Obligations: Key responsibilities and performance standards

11. Client's Obligations: Client's responsibilities and commitments

12. Record Keeping: Requirements for maintaining cost records and supporting documentation

13. Reporting Requirements: Regular cost reporting and progress updates

14. Variations: Process for managing changes to scope or costs

15. Termination: Grounds and process for contract termination

16. Dispute Resolution: Process for resolving disagreements

17. General Provisions: Standard contract clauses including notices, assignment, and governing law

What sections are optional to include in a Cost Plus Fixed Fee Contract?

1. Performance Incentives: Optional provisions for performance bonuses or incentives, used when specific project targets are critical

2. Cost Savings Sharing: Mechanism for sharing cost savings, included when encouraging contractor efficiency

3. Provisional Sums: Handling of uncertain cost elements, used when some costs cannot be accurately predicted

4. Subcontracting: Rules for engaging subcontractors, included when subcontracting is anticipated

5. Insurance Requirements: Specific insurance obligations, detailed section needed for high-risk projects

6. Security Provisions: Requirements for performance bonds or other security, used for high-value contracts

7. Intellectual Property: IP rights and obligations, included when IP creation is part of the services

8. Confidentiality: Detailed confidentiality obligations, used when sensitive information is involved

What schedules should be included in a Cost Plus Fixed Fee Contract?

1. Schedule 1: Scope of Services: Detailed description of services, including technical specifications and requirements

2. Schedule 2: Fee Calculation: Detailed breakdown of the fixed fee and methodology for calculating reimbursable costs

3. Schedule 3: Allowable Costs: Comprehensive list of costs that qualify as reimbursable under the contract

4. Schedule 4: Key Personnel: List of key personnel and their roles, including any minimum qualification requirements

5. Schedule 5: Reporting Templates: Standard forms for cost reporting and progress updates

6. Schedule 6: Rate Schedule: Agreed rates for labor, equipment, and materials

7. Schedule 7: Project Timeline: Project milestones and completion dates

8. Appendix A: Cost Verification Procedures: Detailed procedures for cost verification and audit processes

9. Appendix B: Required Documentation: List of required supporting documents for cost claims

10. Appendix C: Insurance Certificates: Copies of required insurance certificates and coverage details

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

New Zealand

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Construction

Engineering

Professional Services

Infrastructure Development

Research and Development

Manufacturing

Mining

Oil and Gas

Government Contracting

Defense Contracting

Technology Implementation

Environmental Services

Relevant Teams

Legal

Finance

Procurement

Commercial

Operations

Project Management

Risk and Compliance

Contract Administration

Cost Control

Quantity Surveying

Engineering

Business Development

Relevant Roles

Project Manager

Contract Manager

Commercial Manager

Procurement Manager

Legal Counsel

Finance Director

Cost Controller

Quantity Surveyor

Operations Manager

Chief Financial Officer

Risk Manager

Compliance Officer

Project Engineer

Construction Manager

Program Director

Business Development Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Turnkey Contract

A New Zealand-governed contract for complete project delivery, where the contractor takes full responsibility from design through to commissioning.

find out more

Time And Materials Contract

New Zealand-governed agreement for services provided on a time and materials basis, including labor rates, materials pricing, and performance requirements.

find out more

Standard Renovation Contract

A New Zealand-compliant renovation contract template for structuring renovation projects, ensuring legal compliance with NZ construction and building laws.

find out more

Swimming Pool Contract

A New Zealand-compliant swimming pool construction contract covering construction terms, safety requirements, and regulatory compliance under NZ law.

find out more

Suppliers Contract Agreement

A New Zealand law-governed agreement establishing terms and conditions for the supply of goods/services between a supplier and purchaser.

find out more

Sub Contractor Agreement

A New Zealand-compliant agreement establishing terms and conditions between a principal contractor and subcontractor, outlining services, payments, and obligations.

find out more

Service Contract Proposal

A New Zealand-compliant service contract proposal outlining proposed service arrangements, terms, and conditions between service provider and client.

find out more

Residential Solar Installation Contract

New Zealand-governed contract for residential solar system installation, covering installation terms, warranties, and regulatory compliance.

find out more

Restoration Contract

A New Zealand-governed agreement setting out terms and conditions for property restoration works, including scope, payments, and compliance requirements.

find out more

Receipt Contract

A New Zealand-compliant document evidencing a transaction between seller and buyer, including essential details required by local tax and commercial laws.

find out more

Real Estate Contractor Agreement

A New Zealand-compliant agreement establishing the terms and conditions between a real estate agency and an independent contractor real estate agent.

find out more

Proposal And Contract

A New Zealand law-governed document that combines a business proposal with contractual terms, creating a legally binding agreement upon acceptance.

find out more

Private Contractor Agreement

A New Zealand-compliant agreement establishing the terms and conditions for engaging independent contractors, defining service scope, payment terms, and relationship parameters.

find out more

Owner's Representative Contract

A New Zealand-compliant contract establishing the appointment and authority of an Owner's Representative for project oversight and management.

find out more

New Home Construction Contract

A New Zealand-compliant contract for new residential property construction, establishing terms between builder and property owner.

find out more

Masonry Contract

New Zealand-governed contract for masonry construction works, defining terms, specifications, and obligations between contractor and client.

find out more

Marketing Agreement Contract

A New Zealand-governed agreement establishing terms between a marketing service provider and client for marketing services delivery and management.

find out more

Lump Sum Contract

A New Zealand-governed fixed-price construction contract establishing terms for project delivery, payments, and risk allocation.

find out more

Insurance Agency Agreement

A New Zealand-governed agreement establishing the legal relationship between an insurer and insurance agent/broker, outlining authorization terms and regulatory compliance requirements.

find out more

Labour Only Subcontractor Agreement

A New Zealand-compliant agreement establishing terms and conditions between a principal contractor and labour-only subcontractor, ensuring legal and regulatory compliance.

find out more

Labour Only Contract

A New Zealand-compliant employment agreement for labour-only services that establishes terms and conditions between an employer and employee.

find out more

Kitchen Renovation Contract

A New Zealand-compliant contract governing the terms and conditions for kitchen renovation works between a contractor and property owner.

find out more

Kitchen Contract

New Zealand-compliant contract template for kitchen installation and renovation projects, covering scope, costs, and responsibilities.

find out more

Labour Supply Contract

New Zealand-governed agreement for the provision of temporary workers through a labor hire company to client organizations.

find out more

Joint Contract

A New Zealand law-governed agreement establishing terms and conditions for joint arrangements between multiple parties, including shared responsibilities and obligations.

find out more

Independent Contractor

New Zealand-compliant Independent Contractor Agreement defining service terms and maintaining contractor independence while ensuring legal compliance.

find out more

Flooring Contract

New Zealand-compliant contract template for flooring installation and maintenance works, suitable for both residential and commercial projects.

find out more

Fixed Price Building Contract

A New Zealand-compliant Fixed Price Building Contract establishing terms for construction works at an agreed fixed sum.

find out more

Fence Contract

A New Zealand-compliant contract for fence construction and installation, outlining terms, specifications, and obligations between contractor and property owner.

find out more

Employment Contract For Security Guard

New Zealand-compliant employment contract for security guard positions, incorporating industry-specific requirements and general employment terms.

find out more

Excavation Contract

New Zealand-compliant contract template for excavation works, covering scope, safety, payments, and regulatory requirements.

find out more

Cost Plus Fixed Fee Contract

New Zealand-compliant Cost Plus Fixed Fee Contract template establishing terms for cost reimbursement plus fixed fee compensation.

find out more

Cost Plus Contract

A New Zealand law-governed agreement where the client pays the contractor's actual costs plus an agreed fee or percentage markup, suitable for projects with uncertain final costs.

find out more

Contractor Payment Agreement

A New Zealand-compliant agreement establishing payment terms and conditions between a business and an independent contractor.

find out more

Construction Contract

New Zealand construction contract template compliant with local legislation, governing construction project agreements between principals and contractors.

find out more

Construction Bid Form

A standardized form used in New Zealand for submitting competitive construction project bids, ensuring compliance with local construction laws and procurement requirements.

find out more

Contractor And Homeowner Agreement

A New Zealand-compliant legal agreement between a contractor and homeowner for residential construction or renovation work.

find out more

Carpentry Contract

A New Zealand-compliant legal agreement for carpentry services, outlining work scope, terms, and obligations between carpenter and client.

find out more

Bid Contract

A New Zealand law-governed contract that establishes terms and conditions for a competitive bidding process, including submission requirements and evaluation criteria.

find out more

Bathroom Renovation Contract

A New Zealand-compliant contract governing the terms and conditions for bathroom renovation works between a contractor and property owner.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now