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kimanand, All of the cost plus contracts I have seen are cost plus a certain percentage rather than a flat fee as you have alluded to. They are usually used on commercial projects, and even then, mostly on projects that have not got sufficient documentation in place before construction...

Sounds nice and risky...:rolleyes: What happens if costs blow out and you run out of the bank's money, and can't afford to complete construction. Or when the bank sends out a valuer to inspect prior to releasing a progress payment and things don't mach up to the payment schedule provided...

kimanand, Do you have finance in place for the construction yet? As most lenders will not easily lend against a cost plus contract as they are open ended and often costs will blow out. Just something to think about. Boods