A lump-sum contract is a great contract agreement to be used if the requested work is well-defined and construction drawings are completed. The stipulated sum contract might contain, when agreed-upon parties, certain unit prices for items with indefinite quantities and allowance to cover any unexpected condition.
Pricing Credits for reduced scope on “lump sum” contracts might be its pricing required a lump sum, without adjustment for actual quantities.
such contracts are best suited for simple straightforward projects where the duration is short and variations are unlikely to occur the drawbacks are that if several
LUMP SUM CONTRACT BASED ON DRAWINGS AND SPECIFICATION ( WITHOUT QUANTITIES). The lump sum contract associated with
Lump sum and measurement are both types construction contracts. Under a lump sum contract, a single 'lump sum' price for all the works is agreed before the works begin. It is defined as a fixed price contract, where the contractors agree to execute the work for a stated total sum of money.
A lump sum contract (or stipulated sum contract) is the traditional to vary the design, quantities, quality, sequence or working conditions.
The Bill of Quantities (BoQ) was prepared by the Contractor at tender stage. . Contract sum in BOQ rate based on lump sum (1 lot) without detail breakdown
A lump sum contract, sometimes called stipulated sum, is the most basic form of agreement between a contractor and a customer. A lump sum contract or a stipulated sum contract will require that the contractor agree to provide specified services for a stipulated or fixed price.
一份Lump Sum contract without qty. , schedule of rate 內之description 及rates The quantities shown on the Schedule of Rates are irrelevant.
In lump sum contracts based on bill of quantities, the contractor undertakes to carry out the work in accordance with the drawings, specification and as described