A well-structured cost-plus construction contract should address issues such as delays that can affect the project timelines. This includes leaving an allowance for things within the contractor’s control and unexpected delays.
Procedures for Time Extensions
In the event that the Contractor is delayed in the progress of the Work for reasons beyond the Contractor's control, including but not limited to acts of God, strikes, material shortages, changes in the Work ordered by the Owner, or other excusable delays, the Contractor shall promptly notify the Owner in writing of the cause of the delay. The Owner shall have the right to grant or deny time extensions, at the Owner's sole discretion, for any delays that are found to be excusable.
No Damages to the Contractor for Delay
The Contractor acknowledges and agrees that, except for the extension of time for completing the Work as provided herein, the Contractor shall not be entitled to any additional compensation, damages, or claims for any delays or interruptions in the progress of the Work, regardless of the cause of such delays. The Contractor further waives any right to recover consequential damages, lost profits, or any other indirect damages arising from any delay.