Owners and contractors have two choices for the type of contract and agreement to use: fixed price or cost-plus. Both types of contracts have their advantages and disadvantages, but let's look further ...

A fixed price strategy is an approach where you establish a set price for each customer or client regardless of the actual time and materials used for a project. These types of contracts are common in ...

Before starting any home renovation project, legal experts say homeowners should take the necessary legal precautions to avoid costly disputes. That starts with a solid construction contract. “A ...

Engineering, procurement, and construction (EPC) contracts are agreements in which a contractor is given major project responsibilities under a single contract established with an owner or developer.

Construction projects involve high risk. Multiple contractors and subcontractors working on a project site—often with heavy equipment and hazardous conditions—creates the potential for significant ...

A type of construction contract under which the construction firm is obligated to complete a project according to prespecified criteria for a price that is fixed at the time the contract is signed.