09/20/2026
A cost-plus contract pays the contractor's costs plus a fee and has no built-in ceiling. Overruns and rework are costs, and the fee is charged on them. A Guaranteed Maximum Price, a not-to-exceed clause and an audit right are what put a number in it. Call a Construction Lawyer Board Certified by The Florida Bar: (407) 926-4100 Williams Law Firm | Orlando, Florida Glenn Williams, Esq., Board Certified in Construction Law by The Florida Bar Sources: Contract terms: cost-plus, guaranteed maximum price, audit rights www.wclfirm.com/how-to-pay-contractor-florida-without-paying-twice/ Not legal advice. Licensed in Florida only, laws differ where you live. No attorney-client relationship is created without a Fully Signed Legal Representation Agreement.