下载后可任意编辑 Types of Construction Contracts and Bonds1 Types of construction Contractsthere are many types of construction contracts and the owner generally makes the selection of contract type. The type of contract selected depends on the kind of work being performed and the conditions under which it is being performed.1.1 Lump sumLump sum contract are typically used for buildings. The quantities of the materials required can be calculated with sufficient accuracy during the bidding process to allow contractor to submit a single lump sum price for the work .The quantity of items such as drywall, door frames, bathroom sinks, electrical conduit and wiring, and roof tiles can be calculated accurately from the plans. When a clear definition of the quantities and quality of work required is provided by the contract documents, submitting a single lump sum bid is fair to the contractors 1.2 Unit price Unit price contracts are used for work where it is not possible to calculate the exact quantity of materials that will be required. Unit-price contracts are commonly used for heavy highway work. The designer may calculate that 1,000,000 cy of earth needs to be moved, but the owner and contractors know that after the work has been completed, the contractor will not have moved exactly 1,000,000. The exact quantity will vary. The fair solution to the problem is for the owner to tell the contractor what the estimated quantity is, and then to pay the contractor for the exact measured amount after the work is complete. Contractors submit a price for each item on a unit-price contract. Unit prices are multiplied by the engineer’s estimated quantities and totaled. The low bidder is the bidder with th...
