We'll get the job done!
We'll get the job done!
Cost Plus Contract: Â Under a cost plus construction contract, also known as a time and materials contract, a project owner agrees to pay a contractor for its costs plus a fee, which may either be a fixed fee or calculated as a percentage of costs. Â
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Fixed Price Contract: Fixed price construction contracts, also commonly referred to as “lump sum” or “stipulated sum” contracts, are the most common types of construction contracts. As its name suggests, under a fixed price contract a contractor agrees to construct a project for a “fixed” or agreed upon price. Adjustments to to fixed price can only be incorporated based on approved change orders to the scope. Â
Guarantee Maximum Price Contract: The least common and most complex contract is the GMP. Under a guaranteed maximum price contract, project owners agree to pay contractors for their time and cost of materials plus a fee—but only up to a “guaranteed maximum price.”Â
Design Build Project: Design–build is a project delivery system used in the construction industry. It is a method to deliver a project in which the design and construction services are contracted by a single entity known as the design–builder or design–build contractor.Â
Construction Consulting and Owner's Representative: Â Construction consultants help clients make sound preparations for their upcoming projects and ensure that contractors complete the project on cost. They provide cost estimates, draw budgets, select contractors, administer construction contracts, and resolve differences between contractors and project owners. This service is provided by American Building Consulting and Inspection Services, Inc (ABC). Please see below for more details. Â
