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2. Lump sum contract - Wikipedia

   en.wikipedia.org/wiki/Lump_sum_contract

   Typical Lump Sum Contract Structure. A lump sum contract in construction is one type of construction contract, sometimes referred to as stipulated-sum, where a single price is quoted for an entire project based on plans and specifications and covers the entire project and the owner knows exactly how much the work will cost in advance. [1]

3. Bill of quantities - Wikipedia

   en.wikipedia.org/wiki/Bill_of_quantities

   A bill of quantities is a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized. It also (ideally) details the terms and conditions of the construction or repair contract and itemizes all work to enable a contractor to price the work for which he or she is bidding. The ...

4. Request for quotation - Wikipedia

   en.wikipedia.org/wiki/Request_for_quotation

   A request for quotation (RfQ) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. RfQ generally means the same thing as Call for bids (CfB) and Invitation for bid (IfB). [1] An RfQ typically involves more than the price per item.

5. Fixed-price contract - Wikipedia

   en.wikipedia.org/wiki/Fixed-price_contract

   According to the PMBOK (7th edition) by the Project Management Institute (PMI), Fixed Price Economic Price Adjustment Contract (FPEPA) is a "fixed-price contract, but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decrease) for special commodities".

6. Construction bidding - Wikipedia

   en.wikipedia.org/wiki/Construction_bidding

   Depending upon the language in the bid proposal, a subcontracting construction company could make its bid final, and, if accepted, a legally enforceable contract is created. In these circumstances, upon determination by the general contractor that a bid is the lowest offer, it can accept the bid and, upon acceptance, a subcontractor cannot ...

7. Glossary of construction cost estimating - Wikipedia

   en.wikipedia.org/wiki/Glossary_of_construction...

   A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...