🏗️ QUICK GUIDE: 6 TYPES OF CONSTRUCTION CONTRACTS
💵 1. Lump Sum (Fixed Price)
* The Deal: One fixed price agreed upon upfront.
* Risk: Lowest for the owner; contractor covers any overruns.
* Best For: Clear, fully defined project scopes.
💰 2. Cost Plus
* The Deal: Owner pays actual project costs + an agreed contractor fee.
* Risk: High risk of cost overruns for the owner.
* Best For: Complex, urgent, or unpredictable projects.
⏱️ 3. Time & Materials (T&M)
* The Deal: Paid strictly by hourly labor rates and materials used.
* Risk: Less budget certainty, but highly flexible.
* Best For: Small renovations or emergency repairs.
📍We Will Continued ...
@etconp
💵 1. Lump Sum (Fixed Price)
* The Deal: One fixed price agreed upon upfront.
* Risk: Lowest for the owner; contractor covers any overruns.
* Best For: Clear, fully defined project scopes.
💰 2. Cost Plus
* The Deal: Owner pays actual project costs + an agreed contractor fee.
* Risk: High risk of cost overruns for the owner.
* Best For: Complex, urgent, or unpredictable projects.
⏱️ 3. Time & Materials (T&M)
* The Deal: Paid strictly by hourly labor rates and materials used.
* Risk: Less budget certainty, but highly flexible.
* Best For: Small renovations or emergency repairs.
📍We Will Continued ...
@etconp
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