Construction Contracts Compared | Lump Sum, Cost Plus, Re-measurable & Target Cost

If you’ve ever had construction or maintenance work carried out in your home, then you already know the different ways you can pay someone. For instance, you can pay someone an hourly or day rate, you could agree a fixed price, or you can pay a unit rate (for instance, you pay for each door to be installed, or each fence panel to be replaced). And if you work in construction, you know the same applies, and that the contract determines the method of payment. In this video, we’re going to compare the four most popular construction contracts, discuss when they should be used and understand why. Find out more from our blog post here: www.metroun.co.uk/ 0:00 Introduction 0:37 Lump Sum 2:06 Cost Reimbursable 2:48 Re-measurable 4:00 Target Cost 5:15 Metroun #QuantitySurveying #Construction #Infrastructure Downloads: LIFETIME TEMPLATE LICENSE - Get access to industry-ready templates that will streamline and support all your commercial needs. All templates easily downloaded with updates and new templates sent directly to your email: www.metroun.co.uk/product-page/lifetime-template-l… Free CV Template for graduate QS: www.metroun.co.uk/product-page/cv-template-for-gra… Other Downloads: www.metroun.co.uk/downloads Why not follow us on social media?: LinkedIn: www.linkedin.com/company/metroun/?viewAsMember=tru… Facebook: www.facebook.com/MetrounQS Twitter: twitter.com/MetrounServices Instagram: www.instagram.com/quantitysurveyormemes/ DISCLAIMER Thank you for viewing our YouTube page and video. By participating on this YouTube page and viewing this YouTube page and video you agree to comply with the following terms: The information contained within this YouTube page and video is provided for general information purposes only. It does not claim to be or intend to be legal or professional advice and shall not be relied upon as such. The person or persons in the video and the Metroun YouTube channel welcome your thoughts and comments on the video. The person or persons in the video and the Metroun YouTube channel do not accept any responsibility for any losses which may arise from accessing or relying on the information in this video and to the fullest extent possible permitted by law we exclude all liability for loss and/or damages direct or indirect arising from the use of this video and/or the information contained within it.

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