Here are some of the most common types of construction contracts used in various industries:

🔴Fixed-Price Contracts:

✅Lump Sum Contracts

✅Unit Price Contracts

🔴Cost-Reimbursable Contracts:

✅Cost-Plus-Fee

✅Cost-Plus-Percentage-Fee

✅Cost-Plus-Fixed-Fee

🔴Hybrid Contracts:

✅Guaranteed Maximum Price (GMP)

✅Incentive Contracts

✅Design-Build Contracts

✅Engineering, Procurement, and Construction (EPC) Contracts

✅Turnkey Contracts

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