CONTRACT AND TYPE OF CONTRACT

CONTRACT

Contract is an undertaking (agreement) by a person or firm to do any work under certain terms and condition.

TYPES OF ENGINEERING CONTRACTS

1. Item rate contract
2. Percentage rate contract
3. Lump-sum contract
4. All in contract/entire contract
5. Labour contract
6. Material supply contract
7. Piece work aggrement
8. Cost plus percentage rate contract
9. Cost plus fixed fee contract
10. Cost plus sliding or fluctuating fee contract
11. Target contract
12. BOT contract