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Filling forms in PDF format to be submitted to government agencies.
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Difficult accessing documents and saving forms.
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None. Never request assistant to resolve any problem.
2019-01-02
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2021-08-24
this is a pretty good soft ware i would…
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2021-06-14
Modify Sum Contract Feature
The Modify Sum Contract feature allows you to adjust contract values with ease. This tool simplifies the process of managing monetary agreements, ensuring you can respond swiftly to changes in your business needs.
Key Features
User-friendly interface for easy adjustments
Real-time updates to ensure accuracy
Comprehensive tracking of changes made
Seamless integration with existing contract management systems
Potential Use Cases and Benefits
Adjust contract values due to market fluctuations
Modify existing agreements to meet new business requirements
Enhance collaboration between teams with updated contract information
Foster transparency by keeping an accurate history of changes
With the Modify Sum Contract feature, you can tackle the issues of inflexible contracts. This tool allows you to make necessary changes quickly, helping you maintain control and adapt to evolving circumstances. Ultimately, you can streamline processes, reduce errors, and support your teams effectively.
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How does lump sum contract work?
A lump sum contract (or stipulated sum contract) is the traditional means of procuring construction, and still the most common form of construction contract. Under a lump sum contract, a single 'lump sum' price for all the works is agreed before the works begin.
When would you use a lump sum contract?
When to Use This Type of Contract A lump-sum contract is a great contract agreement to be used if the requested work is well-defined and construction drawings are completed. The lump-sum agreement will reduce owner risk, and the contractor has greater control over profit expectations.
What is the difference between fixed price and lump sum contract?
Lump sum (or stipulated sum) contracts are sometimes referred to as 'fixed price' or 'firm price' contracts, although strictly this is not correct. On a lump sum contract, a single 'lump sum' price is agreed before the works begin.
What is a lump sum fixed price contract?
Lump Sum or Fixed Price Contract Type This type of contract involves a total fixed priced for all construction-related activities. Lump sum contracts can include incentives or benefits for early termination, or can also have penalties, called liquidated damages, for a late termination.
What are the advantages and disadvantages of lump sum contract?
8. Lump Sum Contract(Advantages) Low risk on the owner, Higher risk to the contractor Cost known at outset Contractor will assign the best personnel Contractor selection is easy. 9. Lump Sum Contract(Disadvantages) Changes is difficult and costly.
What is the difference between lump sum and cost plus a fee compensation?
With a lump sum contract, all the risk is placed on your contractor. Cost plus, you take on all the risk. Everything is billable, and the contractor has no risk for this. In return, you might be charged a lower markup.
Is lump sum and fixed price the same?
Lump sum (or stipulated sum) contracts are sometimes referred to as 'fixed price' or 'firm price' contracts, although strictly this is not correct. On a lump sum contract, a single 'lump sum' price is agreed before the works begin.
What is the difference between GMP and lump sum?
A Lump Sum contract price will always be lower than the Guaranteed Maximum Price in a GMP/Cost-Plus contract because the GMP/cost-Plus contract will include a construction contingency (typically 5% plus or minus that is not included in a Lump Sum contract amount.
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