Publish Sum Contract For Free

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Publish Sum Contract Feature

The Publish Sum Contract feature allows you to manage and publish contracts seamlessly. With this tool, you can simplify your contract management process and ensure accuracy every step of the way.

Key Features

Easy contract creation and editing
Automated publishing to stakeholders
Real-time tracking of contract changes
Secure storage and retrieval options
User-friendly interface for all skill levels

Potential Use Cases and Benefits

Companies aiming to streamline contract workflows
Teams needing to collaborate on contract drafts
Business leaders wanting to reduce contract errors
Organizations looking for better contract visibility
Firms requiring compliance with contract regulations

By using the Publish Sum Contract feature, you can eliminate the chaos of managing contracts. It offers a clear and organized approach to publishing contracts, which helps you reduce mistakes and improve team collaboration. Transitioning to this feature means a more efficient workflow and a significant reduction in time spent on contract management.

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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 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.
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.
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.
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.
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.
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.
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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