Contributed By Hawkins Hatton Corporate Lawyers Ltd
Lump-sum or fixed-price contracts comprise a total fixed price for all construction-work. They are the most commonly used form of contract.
Cost-plus contracts comprise payment of the actual costs, consumptions or other expenses relating directly to the construction works.
Measured contracts will define the buildings that will be covered by the works, the period over which works may be required and an estimate of the likely total value of the works.