Question

What is lump sum contract? And write suitability, merits and demerits?

Answer 1

${\huge {\mathfrak {Answer :-}}}$

➡️ A lump sum contract (or stipulated sum contract) is the traditional means of procuring construction, and still the most common form of construction contract. Under a lump sum contract, a single 'lump sum' price for all the works is agreed before the works begin.

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