Design and Build Procurement/Design and Build Contracts in Construction

In the design and build contract/procurement method (also called as design and construct contracts), the contractor is appointed to design and built the project. In most other procurement methods, consultants are appointed to design the project, and the contractor is appointed to execute the project. However, in this procurement method contractor will do all designContinue reading “Design and Build Procurement/Design and Build Contracts in Construction”

5 pros & cons of Lum psum Contracts or 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 safestContinue reading “5 pros & cons of Lum psum Contracts or Fixed price Contracts (with video explain)”