Contracts

lump sum contract/ fixed price contract

5 pros & cons of Lump sum Contracts/Fixed price Contracts (with video explain)

What is a Lump sum contracts or Fixed price contract Lump-sum contracts are the most favourite contract type used in the construction industry. Also known as fixed-price contracts. Because in these contracts, the contract price is fixed and agreed at the initial stage. In industry, this contract type is recognizing as one of the safest …

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Letter of intent construction

Letter of intent in construction & how to write?

Why Letter of intent in construction or any other trade? The Letter of intent in the construction industry? The Letter of intent or the Letter of interest is a highly controversial subject in the construction industry.  People always mixed up the Letter of intent with Letter of award (LOA), Comfort letter or Contract awarded Letter. But usually, Letter of acceptance or Contract awarding Letter is issued …

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