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Fixed-Price Contracts. The pricing of this group of government contracts will not change. Time Materials Contracts. This one is quite straightforward. Cost-Reimbursement Contracts. Incentive Contracts. Indefinite Delivery Quantity Contracts.
What Should Be in a Construction Contract? Identifying/Contact Information. Title and Description of the Project. Projected Timeline and Completion Date. Cost Estimate and Payment Schedule. Stop-Work Clause and Stop-Payment Clause. Act of God Clause. Change Order Agreement. Warranty.
The three most common contract types include: Fixed-price contracts. Cost-plus contracts. Time and materials contracts.
5 Key Elements Every Construction Contract Should Contain 1) The projects scope. 2) The cost and payment terms. 3) The projects time frame. 4) Protection against lien law. 5) Dispute resolution clauses.
The five main types of construction contracts are lump sum, time and materials, cost-plus, unit price, and guaranteed maximum price (GMP).
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A contract should contain everything agreed upon by you and your licensed contractor. It should detail the work, price, when payments will be made, who gets the necessary building permits, and when the job will be finished. The contract also must identify the contractor, and give their address and license number.
4 Types of Construction Contracts Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.
Three most commonly used construction contracts Fixed price contract. The fixed price contract revolves around one lump sum, agreed between the project owner and the contractor. Cost plus fixed percentage contract. Time and materials contract. Final thoughts.
4 Types of Construction Contracts Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.
The eight types of construction contracts include: cost-plus construction contract. design and build contract. guaranteed maximum price contract. incentive construction contract. integrated project delivery contract. lump-sum contract. time and materials contract. unit price contract.

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