Question

What is Lump sum cost in the estimation , Could you please provide an example for TRENCH SHORING LS cost has, trench depth 11 FT and Length of 7 FT, width 7.75 FT?

Answer 1

Lump sum contract:

Lump sum contract in construction is one of the construction contract which is sometime referred to as stipulated sum contract. A single prices quoted for and entire project and the owner knows how much will the projector cost in advance. This type of contractor request complete set of plan and specification and include all type of indirect cost and profit the contractor will receive a progress payment each month minus retention.the flexibility of contract is very minimal and change in designe or deviation from original plan whould require a change order paid by owner. In this contractor payment is done by percentage of work completed. In lump sum contract contractor is responsible for additional cost.please like