Which type of contract is more risky for the contractor?
Fixed Price Contract With a Fixed Price Contract, the government agrees to pay you a specific pre-determined price for your product or service. This type of contract is more risky for the contractor as you would be responsible for any cost overruns.
What is a trim carpenter?
Trim carpenters specialize in installing or repairing trim or molding, often in the final stage of carpentry work. Their responsibilities include cutting and installing trim, such as that found around windows, doors, baseboards, and on ornamental pieces like crown moldings and fireplace mantels.
What is the most popular construction contract?
Lump sum contracts (also sometimes known as fixed price contracts) are usually considered the most popular type of contract when it comes to building and engineering agreements, however they do have minor differences.
What is the best type of contract for construction?
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. In a unit price contract, the work to be performed is broken into various parts, usually by construction trade.
Which type of contract is most commonly used?
Bilateral contracts are agreements in which both parties exchange mutual promises to perform certain obligations, making this type of contract the most common in business transactions.
Related Searches
Trim carpenter contract for contractor vermont templateTrim carpenter contract for contractor vermont pdf
Best Contract Types for Different Project Owners Government Owners: Lump Sum (Fixed-Price Contract) Private Developers: Cost-Plus with Guaranteed Maximum Price (GMP) Corporate Institutional Owners: Cost-Plus with Incentives. First-Time Owners: Lump Sum or Unit Price.
Related links
Labor Relations Division, Associated General Contractors of
Jun 5, 2005 standard construction contracts between contractor associations and carpenter locals throughout Maine, New Hampshire, Vermont, Massachusetts
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