Cost Plus Contract Template – Australia

Disclaimer

The information provided is intended solely for general understanding regarding contractual arrangements involving cost-based project agreements in Australia. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified legal professional experienced in construction law. Regulations and requirements may differ across states and territories, and adjustments may be necessary to ensure compliance. The use of this information is at the user’s own risk, and we accept no liability for errors, omissions, or consequences from its use without proper legal consultation.

Please note: This is a sample template for a ‘Cost Plus Contract’ in Australia, intended for illustrative purposes only. Actual terms and legal requirements may vary based on specific agreements and applicable Australian laws.

Cost Plus Contract Sample – Australia

Parties Involved:

Contractor: XYZ Constructions Pty Ltd
Address: 123 Building Road, Sydney NSW 2000

Client: ABC Developers Pty Ltd
Address: 456 Development Avenue, Melbourne VIC 3000

Project Description:

The project involves construction works at 789 Future Street, Brisbane QLD 4000, or other specified locations as detailed in respective schedules.

Contract Terms:

The contractor shall be reimbursed for the direct costs of materials, labour, and overheads, plus a fixed percentage fee, as agreed upon in this contract.

Contractor Responsibilities:

The contractor commits to performing the work diligently, adhering to all relevant Australian standards and building codes, and providing regular progress updates to the client.

Payment and Cost Reconciliation:

Payments shall be made based on verified costs incurred, with adjustments made at periodic intervals as detailed in the schedule. The contractor shall maintain proper records of all expenses for transparency.

Governing Law:

This agreement shall be governed by the laws of the Commonwealth of Australia and the State of New South Wales. Disputes shall be resolved in the courts of Sydney.

Additional Provisions:

• Both parties agree to keep accurate and detailed records of all costs incurred during the project.
• This contract can only be amended through a written agreement signed by both parties.
• The final payment is contingent upon completion and inspection approval of the works.

Sydney, ______________________