The Application Of Cost Plus Contracts For Renovation Works

Rebilt Home Renovation

The Application Of Cost Plus Contracts For Renovation Works

As a renovation specialist Rebilt uses cost plus contracts in circumstances where the scope of works cannot be confirmed at the time of entering the contract.

In many ways a cost plus contract is similar to a fixed price contract and the differences are found in the areas of pricing and progress payments.

A cost plus contract is used when the full extent of the works cannot be fully realised until after the works have begun or due to the cost of materials and/or labour and/or any additional works that may be required to complete the works.

A cost plus contract does not require the builder to provide an estimate. 

Rebilt uses the “HIA Cost Plus Contract” which contains a warning to the homeowner that the contract price is unknown and any estimate provided is an estimate only and not a representation of the contract price.

For more information on cost plus contracts as relates to your project please speak with the Rebilt team. Call 1300 REBILT.

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Providing Quality Home Renovations, Extensions, and Structural Repair Services in Sydney