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Cost Plus Contractor Agreement for Hong Kong

Cost Plus Contractor Agreement Template for Hong Kong

A Cost Plus Contractor Agreement governed by Hong Kong law is a specialized construction contract where the contractor is compensated for actual costs incurred plus an agreed fee or percentage markup. This agreement is particularly suited for complex projects where exact costs are difficult to determine upfront or where flexibility is required. The document incorporates Hong Kong construction industry standards and regulations, including relevant ordinances governing construction works, employment, and safety. It provides detailed mechanisms for cost verification, markup calculations, payment procedures, and project management protocols while ensuring compliance with Hong Kong's legal framework.

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What is a Cost Plus Contractor Agreement?

The Cost Plus Contractor Agreement is commonly used in Hong Kong construction projects where the scope of work is complex or not fully defined at the outset, making traditional fixed-price contracts impractical. This document type is particularly relevant for urgent projects, renovation works, or situations where flexibility in scope is required. The agreement details the methodology for determining allowable costs, markup calculations, payment procedures, and project management requirements. It incorporates specific provisions to comply with Hong Kong construction regulations, including the Construction Industry Council Ordinance, Employment Ordinance, and Occupational Safety and Health requirements. The document is structured to provide transparency in cost reporting while protecting both parties' interests through clear risk allocation and management procedures.

What sections should be included in a Cost Plus Contractor Agreement?

1. Parties: Identification and details of the contracting parties

2. Background: Context of the agreement and brief project overview

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

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

5. Cost Plus Framework: Definition of cost components, markup structure, and payment mechanisms

6. Contractor's Obligations: Core responsibilities including quality, timeline, and compliance requirements

7. Client's Responsibilities: Client's obligations including access, information, and approvals

8. Project Timeline: Commencement, completion dates, and milestone requirements

9. Payment Terms: Detailed payment procedures, timing, and documentation requirements

10. Variations: Process for handling changes to scope or costs

11. Quality and Inspection: Quality standards, inspection procedures, and acceptance criteria

12. Health and Safety: Safety requirements and procedures

13. Insurance and Indemnity: Required insurance coverage and indemnification provisions

14. Default and Termination: Events of default, remedies, and termination procedures

15. Dispute Resolution: Procedures for handling disputes

16. General Provisions: Standard boilerplate clauses including notices, assignments, and governing law

What sections are optional to include in a Cost Plus Contractor Agreement?

1. Design Responsibilities: Include when contractor has design obligations

2. Environmental Requirements: Include for projects with significant environmental impact

3. Intellectual Property: Include when design or innovative methods are involved

4. Performance Security: Include when bonds or guarantees are required

5. Specialized Equipment: Include when specific equipment requirements exist

6. Site Conditions: Include when site-specific risks need addressing

7. Subcontracting: Include when subcontracting is permitted

8. Force Majeure: Include when specific force majeure provisions are needed

9. Confidentiality: Include when sensitive information is involved

10. Building Information Modeling: Include when BIM is required

What schedules should be included in a Cost Plus Contractor Agreement?

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

2. Schedule 2 - Cost Components: Breakdown of allowable costs and markup calculations

3. Schedule 3 - Rate Schedule: Labor rates, equipment rates, and overhead calculations

4. Schedule 4 - Project Timeline: Detailed program of works and milestones

5. Schedule 5 - Key Personnel: List of key personnel and their responsibilities

6. Schedule 6 - Required Insurance: Details of required insurance coverage

7. Schedule 7 - Forms and Procedures: Standard forms for variations, payments, and reports

8. Schedule 8 - Quality Management Plan: Quality assurance and control procedures

9. Schedule 9 - Health and Safety Requirements: Detailed safety procedures and requirements

10. Schedule 10 - Performance Criteria: Specific performance targets and measurements

Authors

Alex Denne

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

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions








































































Clauses






































Relevant Industries

Construction

Infrastructure

Real Estate Development

Industrial Projects

Commercial Development

Residential Development

Mining

Oil and Gas

Healthcare Facilities

Educational Facilities

Data Centers

Manufacturing Facilities

Relevant Teams

Legal

Commercial

Operations

Finance

Procurement

Risk Management

Project Management

Construction

Technical

Health and Safety

Quality Assurance

Relevant Roles

Project Director

Construction Manager

Contract Manager

Commercial Director

Quantity Surveyor

Project Manager

Legal Counsel

Risk Manager

Cost Controller

Procurement Manager

Operations Director

Finance Director

Technical Director

Construction Site Manager

Chief Operating Officer

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

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