Types, Terms And Features Of Building Contracts For Project 1

Contract types
Lump Sum contract:
A contract can be termed as the lump sum contract in case the contract agrees to sign an agreement with the building owner to undertake a particular work for a fixed amount of money. In case of the lump sum contract a single price is provided in the tender by the owner of the building with respect to the amount and the type of work that has to be carried out by a contractor (Wren and Davidson, 2011). A part…