Construction Contract Types - ABC
A lump sum contract is a suitable if the scope and schedule of the project are sufficiently defined to allow the contractor to fully estimate project costs. Unit Price Contract In a unit price contract, the work to be performed is broken into various parts, usually by construction trade.
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Construction Contract Types - ABC
www.abc.orgConstruction Contract Types Lump Sum Contract A lump sum contract, sometimes called stipulated sum, is the most basic form of agreement between a contractor and a customer. A lump sum contract or a stipulated sum contract will require that the contractor agree to provide specified services for a stipulated or fixed price.
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