A fixed-price construction contract where the contractor completes the project for a set amount.
A Lump Sum contract is a type of construction agreement where the contractor agrees to complete the project for a fixed total amount, regardless of the actual costs incurred. This contract type provides cost certainty for the client and places the risk of cost overruns on the contractor. Lump sum contracts are commonly used when the project scope is well-defined and changes are expected to be minimal.
Contract where the total project cost is fixed.
