Cost Plus - Residential

WARNING FOR THE PURPOSES OF THE HOME BUILDING ACT 1989

The Contract Sum or the amount to be paid by the Owner is not known as at the date of contract .

The amount of money payable to the Builder by the Owner is dependent upon the costs incurred by or payable by the Builder in carrying out work under the Contract.

(Owner to Initial)

Any figure nominated or stated below is only an estimate and is provided specifically subject to the terms of Clause 30 .

(Owner to Initial)

$ Estimated Cost of Works and Fees inclusive of GST pursuant to Schedule 1 Parts A and B .

The amount to be paid by the Owner is and will be determined by reference to the contract and the work done by the Builder and the costs incurred by the Builder . This will be influenced by and subject to adjustment by reason of such things as: ■■ Discrepancy in Drawings and Specifications; Refer to Clause 4 . ■■ Availability of Materials; Refer to Clause 9.

■■ Delays and Extensions of time; Refer to Schedule 1 Part B (a)(iii) and Clause 11 . ■■ Compliance with Requirements of Local and Other Authorities; Refer to Clause 12 . ■■ Site Investigations; Refer to Clause 13 .

■■ Variations to the works; Refer to Clause 14 . ■■ Insurance responsibilities; Refer to Clause 16 .

■■ Interest on Late Payments; Refer to Clauses 17(g) and 21(c) . ■■ Impact of GST; Refer to Schedule 1, Part C and Clause 18 . ■■ Suspension of works; Refer to Clause 19 . ■■ Costs of the works as set out in the Contract; Refer to Schedule 1 . ■■ Payment of Costs and/or Fees payable to the Builder ; Refer to Schedule 1 and Clause 17 . ■■ The work actually done being different to the work contemplated at the time of signing the contract. For example cost differences arising from details provided or choices made after the contract is signed. ■■ Correction of Defects to work, other than new work undertaken wholly by the Builder . The Builder is to correct defects to its work at its own cost. Refer to Clauses 20 and 22 .

This is page 1 of the contract. It specifically forms part of the contract document.

Owner

Builder

RESIDENTIAL BUILDING CONTRACT COST PLUS - MARCH 2015 - NEW SOUTH WALES 1