Document background
The Cost Plus Construction Agreement is designed for use in construction projects under Austrian jurisdiction where the scope of work cannot be precisely defined at the outset or where flexibility in cost management is required. This type of agreement is particularly suitable for complex construction projects, renovations, or works where unforeseen conditions may be encountered. The document details the mechanism for calculating and verifying costs, defines the contractor's markup or fee structure, and establishes procedures for progress payments and cost reporting. It incorporates requirements from Austrian construction law, including the ABGB and 脰NORMen, while addressing practical aspects of project management and risk allocation. The agreement is typically used when traditional fixed-price contracts are unsuitable due to project complexity or uncertainty.
