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Video Guide on Construction Contracts in Mississippi management

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Commonly Asked Questions about Construction Contracts in Mississippi

Top Five Most Common Business Contracts Bill of Sale. A Bill of Sale is an agreement between two entities that states who owns a piece of personal property, what is it, when it was sold, how much it worths and who sold it. Employment Agreement. Licensing Contract. Nondisclosure Agreement. Promissory Note.
The most common type of contract is the fixed price contract, also known as the lump sum or stipulated sum contract. Fixed price contracts carry more risk to contractors than owners.
Material Purchase Certificate (MPC) Prior to beginning work, the prime contractor(s) is required to apply for a MPC for the contract . You may apply for a MPC on TAP.
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.
Here are four main construction contracts to choose from, plus their pros and cons: Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.
Mississippi requires that both commercial and residential contractors, including roofers, obtain a license from the Mississippi State Board of Contractors. The licensing process involves an application, examination, and other documents like reference letters and proof of employment.
Lump sum contracts, also called fixed price contracts, establish a fixed price for all of the materials and labor required to complete a job. This is the most basic and common type of construction contract.
The main contract is generally that which is awarded by the client (sometimes referred to as the employer) to the general contractor, or main contractor, whose tender has been accepted.