Electrical Engineering · Estimating and Costing
Which type of commercial construction contract is commonly referred to as a fixed-price contract, where a single fixed fee is agreed upon for the entire scope?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Cost plus contract
- 2Incentive contract
- 3Lump sum contract✓
- 4Unit price contract
Correct answer
Lump sum contract
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