A Cost plus contract is the type of contract in which the contractor gets paid all of their expenses plus and additional payment to allow for profit. Cost plus means something over and above the cost for completing the contract.

What is an Item Rate Contract? An item rate contract is the type of contract in which the contractor agrees to carry out the work as per …

What is a Lumpsum Contract? A lumpsum contract is a construction contract in which the parties agree to complete the project within a predetermined amount. This predetermined …