Overview of Payment Modes in Contract of Work Tendering

Description

This Skill Bit shows that payment modes in contract work tendering define how contractors are paid. The chosen mode impacts project costs, cash flow, and risk allocation, requiring careful consideration for project success and ensuring successful outcomes. By understanding the advantages and disadvantages of each payment method, attendees will be better equipped to make informed decisions that align with their project goals and financial strategies.

Duration approx. 5 Min.

Tier: proficiency