What is the Contract??Type of Construction Contracts | Lump Sum Contract / Item Rate Contract
Автор: Learn with EngrWaqas
Загружено: 2026-02-12
Просмотров: 348
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📑 What is a Contract? | Types of Construction Contracts Explained
Before starting any construction or EPC project, everything begins with one critical document — The Contract.
In this video, you will clearly understand:
✔ What is a Contract in construction industry?
✔ Why contracts are the backbone of every project
✔ Lump Sum Contract – when and why it is used
✔ Item Rate Contract – how payment is measured
✔ Risk allocation between Client & Contractor
✔ Which contract type is better in real project scenarios
Whether you are a Planning Engineer, Site Engineer, QS, or Project Manager, understanding contract types is essential for:
• Cost control
• Progress measurement
• Claims & variations
• Delay analysis & EOT
If you want to grow in Project Controls, you must understand contracts — not just schedules.
Comment “CONTRACT” if you want more practical industry-based videos like this 🚀
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