The Cost Plus Contract Form is a specialized agreement used in South African construction and engineering projects where the final scope and costs cannot be definitively established at the project's onset. This contract type is particularly relevant for complex projects, emergency works, or situations where flexibility in execution is essential. The document incorporates South African legislative requirements, including compliance with the Construction Industry Development Board Act, Consumer Protection Act, and relevant labor laws. It provides detailed mechanisms for cost definition, verification, and payment, while ensuring transparency and fairness in the contractor's fee calculation. The agreement is structured to protect both parties' interests through clear risk allocation, cost control procedures, and audit rights, making it an essential tool for projects requiring adaptable pricing mechanisms while maintaining proper governance and control.
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1. Parties: Identification of the employer and contractor, including their legal details and representatives
2. Background: Context of the agreement and brief project overview
3. Definitions: Detailed definitions of terms, particularly focusing on cost-related terminology
4. Scope of Work: Detailed description of the works to be performed
5. Cost Definition and Components: Clear definition of what constitutes 'cost' including direct costs, overhead, and allowable expenses
6. Contractor's Fee Structure: Definition of the percentage or fixed fee added to costs
7. Payment Terms and Procedures: Process for cost submission, verification, and payment
8. Cost Verification and Audit Rights: Employer's rights to verify and audit claimed costs
9. Project Timeline: Project schedule, milestones, and completion dates
10. Contractor's Obligations: Specific duties, including cost management and reporting
11. Employer's Obligations: Responsibilities including timely payment and access to site
12. Cost Control Mechanisms: Procedures for cost monitoring and control
13. Quality Requirements: Quality standards and control procedures
14. Risk Allocation: Distribution of risks between parties
15. Insurance and Indemnities: Required insurance coverage and indemnification provisions
16. Dispute Resolution: Procedures for resolving disputes
17. Termination: Grounds and procedures for contract termination
18. General Provisions: Standard legal clauses including governing law, notices, etc.
1. Guaranteed Maximum Price: Optional cap on total costs - used when budget certainty is required
2. Value Engineering: Procedures for cost optimization - included for complex projects
3. Performance Incentives: Bonus mechanisms for cost savings or early completion
4. Material Procurement: Special procedures for material procurement - used for large supply components
5. Subcontractor Management: Procedures for managing subcontractors - used when significant subcontracting is expected
6. Foreign Currency Provisions: Currency handling for international components
7. Environmental Compliance: Special environmental requirements - used for environmentally sensitive projects
8. Community Engagement: Local community involvement requirements - used for public impact projects
1. Schedule A - Cost Breakdown Structure: Detailed breakdown of cost categories and components
2. Schedule B - Rate Schedule: Agreed rates for labor, equipment, and materials
3. Schedule C - Project Specifications: Technical specifications and requirements
4. Schedule D - Project Program: Detailed project timeline and milestones
5. Schedule E - Key Personnel: List of key personnel and their roles
6. Schedule F - Required Insurance: Detailed insurance requirements and coverage limits
7. Schedule G - Forms and Templates: Standard forms for cost reporting and verification
8. Schedule H - Quality Management Plan: Detailed quality control procedures
9. Appendix 1 - Site Information: Site details and conditions
10. Appendix 2 - Statutory Requirements: Applicable laws and regulations
11. Appendix 3 - Cost Reporting Procedures: Detailed procedures for cost documentation and reporting
Relevant legal definitions
Actual Cost
Agreement
Appendices
Approved
Bill of Quantities
Certificate of Completion
Commencement Date
Completion
Construction Documents
Construction Period
Contract Documents
Contract Price
Contractor
Contractor's Fee
Contractor's Personnel
Cost Records
Defects Liability Period
Direct Costs
Employer
Equipment
Extension of Time
Final Account
Final Completion
Force Majeure
General Conditions
Guaranteed Maximum Price
Indirect Costs
Insurance Requirements
Key Personnel
Labour Costs
Material Costs
Milestone
Overhead Costs
Party/Parties
Payment Certificate
Plant
Practical Completion
Principal Agent
Professional Team
Project
Project Manager
Project Site
Quantity Surveyor
Reimbursable Costs
Schedule of Rates
Scope of Works
Site
Special Conditions
Specifications
Subcontractor
Substantial Completion
Time for Completion
Variation
Works
Agreement
Appendices
Approved
Bill of Quantities
Certificate of Completion
Commencement Date
Completion
Construction Documents
Construction Period
Contract Documents
Contract Price
Contractor
Contractor's Fee
Contractor's Personnel
Cost Records
Defects Liability Period
Direct Costs
Employer
Equipment
Extension of Time
Final Account
Final Completion
Force Majeure
General Conditions
Guaranteed Maximum Price
Indirect Costs
Insurance Requirements
Key Personnel
Labour Costs
Material Costs
Milestone
Overhead Costs
Party/Parties
Payment Certificate
Plant
Practical Completion
Principal Agent
Professional Team
Project
Project Manager
Project Site
Quantity Surveyor
Reimbursable Costs
Schedule of Rates
Scope of Works
Site
Special Conditions
Specifications
Subcontractor
Substantial Completion
Time for Completion
Variation
Works
Clauses
Interpretation
Appointment
Contract Documents
Scope of Works
Cost Definition
Contractor's Fee
Payment Terms
Cost Verification
Audit Rights
Project Timeline
Extensions of Time
Quality Control
Health and Safety
Environmental Compliance
Labour Requirements
Materials and Equipment
Subcontracting
Insurance
Performance Security
Variations
Force Majeure
Suspension
Termination
Dispute Resolution
Confidentiality
Intellectual Property
Assignment and Delegation
Indemnification
Warranties
Liability
Default
Remedies
Notices
Governing Law
Compliance with Laws
Anti-Corruption
Risk Allocation
Site Access
Documentation Requirements
Cost Reporting
Progress Reporting
Testing and Inspection
Defects Liability
Completion
Handover
Retention
Performance Guarantees
Appointment
Contract Documents
Scope of Works
Cost Definition
Contractor's Fee
Payment Terms
Cost Verification
Audit Rights
Project Timeline
Extensions of Time
Quality Control
Health and Safety
Environmental Compliance
Labour Requirements
Materials and Equipment
Subcontracting
Insurance
Performance Security
Variations
Force Majeure
Suspension
Termination
Dispute Resolution
Confidentiality
Intellectual Property
Assignment and Delegation
Indemnification
Warranties
Liability
Default
Remedies
Notices
Governing Law
Compliance with Laws
Anti-Corruption
Risk Allocation
Site Access
Documentation Requirements
Cost Reporting
Progress Reporting
Testing and Inspection
Defects Liability
Completion
Handover
Retention
Performance Guarantees
Relevant Industries
Construction
Engineering
Mining
Infrastructure Development
Commercial Property
Industrial Development
Energy
Manufacturing
Telecommunications
Public Works
Relevant Teams
Legal
Commercial
Procurement
Finance
Operations
Project Management
Risk and Compliance
Construction
Engineering
Quantity Surveying
Contract Administration
Cost Control
Relevant Roles
Project Manager
Contract Manager
Construction Manager
Quantity Surveyor
Cost Engineer
Commercial Director
Procurement Manager
Legal Counsel
Financial Controller
Operations Director
Site Manager
Risk Manager
Compliance Officer
Chief Financial Officer
Technical Director
Project Engineer
Construction Director
Commercial Manager
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