Lump-sum -- or fixed-price -- construction contracts now account for about half of all contracts in the U.S., according to industry think tank PSMJ Resources. Generally speaking, both sides favor ...

In a lump sum contract, the price is fixed but any escalation in the cost of labor or materials during the course of construction is passed along to, and paid by, the owner. In other words, cost ...

Tarter Krinsky & Drogin partner David J. Pfeffer discusses the advantages and disadvantages of the most common construction contract options: a lump sum contract, which is easy to manage if the ...

Lump sum contracts: has it gone on too long? With the construction industry facing steep inflation, Conrad Egbert takes a look at the crippling financial situation, and what is causing it. by Staff ...

A lump sum refers to the single aggregate price a contractor offers to undertake the work and cover all risks accepted by the contractor under the contract. However, don’t assume that a lump sum price ...

Tarter Krinsky & Drogin partner David J. Pfeffer discusses the advantages and disadvantages of the most common construction contract options: a lump sum contract, which is easy to manage if the ...

The latest in a series of dos and don’ts on major projects highlights the provisions in a lump sum contract that mean the price offered by the contractor is far from fixed Cost certainty is a critical ...

Last week, Construction Week reported on escalating material costs, including the price of steel, which has gone up by almost 15% within the space of a week. As good as the idea is for workers, paying ...