Lump Sum Contracts: Simplifying the Commercial Construction Process
In the diverse world of construction contracts, the lump sum contract remains a popular choice among clients and general contractors alike for its straightforwardness and reliability. At Timcon Construction Ltd . , a seasoned commercial construction contractor operating in central Alberta, we've utilized lump sum contracts to successfully deliver numerous projects, from expansive commercial buildings to intricate renovations. This blog explores the advantages of lump sum contracts and how firms like Timcon leverage this contractual approach to streamline project management and provide unmatched clarity and predictability for our clients. Understanding Lump Sum Contracts A lump sum contract is a comprehensive agreement used in construction projects where a single 'lump sum' price is agreed upon for all work. This type of contract is preferred for projects with a well-defined scope where detailed specifications are available, making it easier for design build contractor...