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Cost Plus Construction Agreement

Cost Plus Construction Agreement Template for New Zealand

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Key Requirements PROMPT example:

Cost Plus Construction Agreement

"I need a Cost Plus Construction Agreement for a heritage building renovation project in Wellington, New Zealand, with specific provisions for archaeological discoveries and M膩ori cultural considerations, starting March 2025."

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Document background
The Cost Plus Construction Agreement is specifically designed for construction projects in New Zealand where the scope or complexity makes it difficult to establish a fixed price at the outset. This agreement type is particularly suitable for projects involving uncertain conditions, renovation works, or where fast-tracking is required. The document structure complies with New Zealand legislation, including the Construction Contracts Act 2002, Building Act 2004, and Health and Safety at Work Act 2015. It includes detailed provisions for cost verification, markup calculations, payment procedures, and project management protocols. The agreement is commonly used in complex commercial projects, heritage renovations, or emergency works where flexibility in pricing is essential while maintaining transparency and fair risk allocation between parties.
Suggested Sections

1. Parties: Identifies and provides full legal details of the principal and contractor

2. Background: Outlines the context of the agreement, including project overview and parties' intentions

3. Definitions and Interpretation: Defines key terms and establishes interpretation rules for the agreement

4. Scope of Works: Detailed description of the construction works to be performed

5. Cost Plus Mechanism: Defines direct costs, overhead recovery, and profit markup calculations

6. Payment Terms: Details payment process, timing, and documentation requirements in accordance with NZ Construction Contracts Act

7. Contractor Obligations: Sets out contractor's responsibilities including workmanship, compliance, and project management

8. Principal Obligations: Outlines principal's responsibilities including site access, information provision, and approvals

9. Time and Progress: Addresses project timeline, milestones, and delay management

10. Variations: Process for managing changes to scope and corresponding cost implications

11. Health and Safety: Compliance requirements with Health and Safety at Work Act 2015

12. Insurance and Liability: Insurance requirements and liability allocation between parties

13. Defects and Warranties: Defect liability period and warranty provisions

14. Termination: Grounds and process for contract termination

15. Dispute Resolution: Process for resolving disputes in accordance with NZ law

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

Optional Sections

1. Design Obligations: Include when contractor has design responsibilities beyond construction

2. Value Management: Include for larger projects requiring formal cost optimization processes

3. Environmental Requirements: Include when project has specific environmental compliance needs

4. Cultural Heritage: Include when working on or near sites of cultural significance to M膩ori

5. Subcontracting: Include detailed subcontracting provisions for larger projects

6. Quality Assurance: Include for projects requiring formal quality management systems

7. Building Information Modeling: Include when BIM is required for the project

8. Provisional Sums: Include when certain work elements cannot be accurately costed upfront

Suggested Schedules

1. Schedule 1: Scope of Works: Detailed specifications, drawings, and technical requirements

2. Schedule 2: Cost Schedule: Breakdown of allowable costs, markup rates, and overhead calculations

3. Schedule 3: Key Personnel: Lists key personnel from both parties and their roles

4. Schedule 4: Program: Project timeline, milestones, and completion dates

5. Schedule 5: Site Information: Site details, access requirements, and known site conditions

6. Schedule 6: Insurance Requirements: Detailed insurance requirements and minimum coverage levels

7. Schedule 7: Forms: Standard forms for payment claims, variations, and completion certificates

8. Schedule 8: Special Conditions: Any project-specific conditions or requirements

9. Appendix A: Drawings: Complete set of construction drawings

10. Appendix B: Technical Specifications: Detailed technical specifications for materials and workmanship

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions
Clauses















































Relevant Industries

Commercial Construction

Residential Construction

Industrial Construction

Infrastructure Development

Healthcare Construction

Educational Facilities

Retail Construction

Hospitality Construction

Government Projects

Mining and Resources

Relevant Teams

Legal

Commercial

Procurement

Construction

Project Management

Finance

Risk Management

Operations

Contract Administration

Development

Relevant Roles

Construction Manager

Project Director

Commercial Manager

Contract Administrator

Quantity Surveyor

Project Manager

Legal Counsel

Risk Manager

Procurement Manager

Cost Controller

Site Manager

Operations Director

Chief Financial Officer

Development Manager

Construction Lawyer

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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