asked in Industry Electrical Systems-I by
Define contract and state its types.

Know someone who can answer this question ? Share this on Facebook, Twitter, Whatsapp

← Prev Question Next Question →

1 Answer

answered by

Definition of Contract:- The agreement between two parties under some specific terms and conditions is known as contract. 

Types of Engineering contract:- 1) Lump sum contract 2) Item rate contract 3) Cost + % rate contract 4) Target rate contract 5) Material supply contract 6) Labour contract 7) Sub contract 8) All in one contract 9) D.G.S. of ‘D’ rate contract 10)Cost plus(+) percentage variable rate contract 11)Cost plus(+) fluctuating fees rate contract 12) Cost plus(+) fix fee contract 

Ask now - it's free