Construction agreements come in many flavors, most of which are variations on two major themes ” “fixed price” (or lump sum) contracts and “cost-reimbursable” contracts. Understanding the basic themes ...

Construction contracts are essential in the construction industry, governing the relationships and responsibilities of all parties involved in a project. Whether you’re a contractor, subcontractor, or ...

LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the 4 major types of procurement in the ...

The purpose of a construction contract is risk management. As any construction professional knows, the construction business is inherently risky. There are three main types of loss in any construction ...

Owners and contractors have two choices for the type of contract and agreement to use: fixed price or cost-plus. Both types of contracts have their advantages and disadvantages, but let's look further ...

Each policy type is tailored to address specific areas of risk, ensuring comprehensive protection for both contractors and project owners. While construction insurance covers many risks, it may not ...

A competitive contract is any contract that opens a bidding process, or competition, wherein the winning entity is awarded the contract. These types of contracts are usually awarded by public agencies ...

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Artificial intelligence technology that can produce various types of content including text, imagery, audio and synthetic data – generative AI – has taken the world by storm with the recent rollout of ...

The implementation product of this research study will be a contract time estimating tool that provides state transportation agencies the flexibility of estimating contract time across a broad range ...