TYPES OF CONTRACTS
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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