Types of construction contracts

1. Fixed Price Contract: A predetermined price for the entire project, providing cost certainty.

2.Cost Plus Contract: The owner pays the actual project costs plus an agreed-upon percentage for the builder’s profit.

3.Design-Build Contract: The builder is responsible for both the design and construction phases, streamlining the process.

4.Construction Management Contract: A construction manager oversees various contracts and subcontractors on behalf of the owner.

5.Unit Price Contract: Pricing based on specific units of work, often used in public projects.