“A key part of any construction contract is the pricing and payment arrangement”

Choosing what type of contract to use with your project is an important decision that every owner needs to make. As with every important decision, a full understanding of all factors and information is vital to making the right choice.

A key part of any construction contract is the pricing and payment arrangement. Owners and contractors may use varying types of arrangements depending on the circumstances and the phase in which the project is currently in.  Budget concerns, cost certainty, schedule constraints, and the type of construction are all factors that impact that selection. The decision on what type of a pricing arrangement to use with your project is an important decision for owners and contractors alike and should be given fair consideration on each project.