Payment Modes in Contract of Work Tendering: Unit Price Payment Contracts

Description

This Skill Bit shows that unit price payment contracts in construction compensate based on predetermined rates per unit of work or materials, fostering flexibility and cost transparency. Payments hinge on measured quantities during project execution, with clients managing quantity risks. Change orders and quality assurance are pivotal, ensuring fairness and compliance. Efficient administration relies on meticulous quantity documentation to mitigate disputes and streamline project progress.

Duration approx. 4 Min.

Tier: proficiency