How can you choose between unit price and lump sum contracts?
If you are a contractor or a client in the construction industry, you may have to deal with different types of contracts depending on the scope, budget, and risks of your project. Two common contract formats are unit price and lump sum, which have distinct advantages and disadvantages. In this article, we will explain what these contracts are, how they affect your project, and how you can choose the best one for your situation.