Construction contracts serve means of pricing construction

Reference no: EM13696188

1. How do construction contracts serve as a means of pricing construction and structure allocation of risk to contracting parties? Discuss this with respect to types of contracts.

2. What factors determine the amount of mark up a contractor uses in pricing contracts?

3. What are the major differences between a lump sum and unit price contracts? When is it appropriate to use each type? When is it appropriate to use a cost plus percentage or fixed fee contract?

Reference no: EM13696188

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