what are the different types of contract
The most common types of construction contracts used in the construction industry include: 1  Unit price contract â This contract type is based on anticipated quantities of items which are counted in the project in addition to their unit prices.
There are a number of different types of employment contract. We have set out below a brief description of the different contracts that employers may normally operate.
Places relatively more cost responsibility on the contractor than on the Government, and makes profit a function of the contractor's ability to manage. Fixed-Price Incentive Contracts. A fixed-price incentive contract is a fixed-price type contract with provisions for adjustment of profit. The final contract price is based on a comparison between the final negotiated total costs and the total target costs.