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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.
Licensing/Application Fees To apply for a contractor license, please contact the Alaska Division of Occupational Licensing. The $300 total fee should be paid via check or money order, and payable to the State of Alaska.
In Alaska, most contractors that perform residential home improvements must be licensed by the Division of Corporations, Business and Professional Licensing.
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.
5 Common Types of Construction Contracts Lump Sum Contracts. For projects with a well-defined scope of work, lump sum contracts (also called fixed price contracts) are straightforward. Guaranteed Maximum Price Contracts. Cost-Plus Contracts. Time and Materials Contracts. Unit Price Contracts.
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In construction, site work includes the scope of work related to the exterior of a project. Surveying, clearing, excavation, grading, site utilities, paving, concrete work, and landscaping all fall into the site work realm. In short, site work prepares the land to build a physical structure.
10 Different Types of Contracts Type of ContractEveryday Use Implied Contracts Common in everyday transactions like dining out. Express Contracts Standard in formal business agreements. Simple Contracts Used for straightforward services or transactions. Unconscionable Contracts Often challenged in court for fairness.10 more rows Jul 18, 2024
Its not unusual. If you are not comfortable tell them you are willing to do 50% upon delivery of materials, balance upon completion.

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