Question

If you want to give a vendor an incentive to complete work early, which type of contract would you use?

Answer 1

Answer:

SUPPORT ME MATE PLZ

Explanation:

A fixed price incentive is a type of price that is set based on a reward that will be given only in the case the good or service traded results to be better than expected. It is normally applied when the good or service is delivered to the consumer before so the consumer has the product for extra time with no additional cost.

Answer 2

Answer:

A fixed price incentive

Explanation:

1. A fixed price incentive is a type of price that is set based on a reward that will only be given if the traded good or service performs better than expected. A standard contract where a bonus penalty is concluded.
2. The bonus amount a supplier earns for a day they deliver earlier than agreed. Penalty if he is late again, the amount per day of delay.
3. Most contractors will not be happy to sign a penalty clause, you may have to waive that part. But it depends on how good a negotiator you are. Select a contractor based on their track record of completing work on time. And pay him what he wants to be paid. And then pledge loyalty to him for his great performance and give him more work in the future. Build a relationship based on trust.

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