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A contract where the cost is predetermined and will not change, regardless of the actual expenses. Used when the scope and schedule are clear.

A contract where the owner agrees to pay the cost of the work plus a fee, often with a max price. Used when scope is not well-defined.

A contract based on actual time spent and materials used. Suitable for small jobs or when the scope of work is uncertain.

A contract where payment is based on a per-unit rate for items. Useful when quantities are variable and cannot be accurately pre-determined.

A fixed total price for all work. Ideal for projects with well-defined scopes and low risk of required changes.

A cost-type contract with a ceiling price. The contractor covers any excess costs. Used when the client wants cost certainty.

A contract where one entity performs both design and construction. Favored for fast-tracked projects or when a single point of responsibility is preferred.

A contract with financial incentives for meeting or exceeding performance targets. Encourages contractor efficiency and goal attainment.

A contract where a target cost is established. Cost savings are shared between client and contractor, promoting a mutual interest in cost efficiency.

Similar to Cost Plus, the contractor is reimbursed for actual costs and paid a fee. It’s used in projects with unpredictable scopes.

A contract where the contractor is responsible for entire project completion and delivery to the client ready for use. Common in industrial projects.

A contract where all parties (owner, contractor, designer) are aligned in all phases of construction, sharing risks and rewards.

A contract where the contractor is paid a percentage of the total construction cost. Suitable for when costs are expected to fluctuate.

A contract used in government projects that allows multiple tasks over a period of time at pre-negotiated prices. Speeds up the contracting process.

A selection of multiple firms for construction services, where each firm is awarded tasks on the basis of task order competitions. Used by governments.

A contractual agreement that aims to establish a spirit of cooperation between parties, often involving a shared vision and mutual goals.

A collaborative contract where all parties share the risks and benefits of the project, often involving joint management.

A sequential contract process split into design, then bid, then build phases. Traditional method providing clear project scope before construction begins.

A contract structure where a developer builds a facility, operates it for a specified duration, and then transfers it to the government or owner.