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What are the four basic types of construction contracts?

4 Types of Construction Contracts Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.

What are the three types of construction contracts?

Three Common Construction Contracts FIXED PRICE. Fixed price construction contracts, also commonly referred to as lump sum or stipulated sum contracts, are the most common types of construction contracts. COST PLUS. GUARANTEED MAXIMUM PRICE.

What is a prototype agreement?

This contract sets the terms under which a prototype product will be developed and made up from ideas, plans or designs. It is suitable for any type of product that will be used in any industry or field, from a complete working machine to an electronics component.

What is the most common contract type?

The three most common contract types include: Fixed-price contracts. Cost-plus contracts. Time and materials contracts.

What are the main types of construction 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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