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hello and welcome to costa engineering professional i am ahmad adil and in this video ill talk about the most important 15 commercial terms in contracts starting right now [Music] in contracts or agreements there will be many clauses terms and conditions that you need to understand and pay attention to and starting with the term number one which is the contract type there are many types of contracts that can be used especially in contracting but the most commonly used type of contracts is fixed price contracts and by the way the lump sum contract and the remeasured contract both of them are fixed price contracts but in the lump sum contract the contract value is fixed however in the remeasured contract the rate of the items in the contract is fixed and the quantity is to be remeasured after doing the works to come up with the final contract value so you need to make sure what type of contract are you using for this project or work package and there are five lectures talking about con
