- Lump sum / fixed price (stipulated sum). One fixed price for a defined scope. Simple; owner bears less cost risk but pays a risk premium; change orders adjust the price.
- Guaranteed Maximum Price (GMP). The GC guarantees the project won't exceed a cap; savings below the cap are often shared. Common in design-build and CMAR. Balances cost certainty with transparency.
- Cost-plus (cost + fee). Owner pays actual cost plus a fee (fixed or percentage). Transparent; used when scope isn't fully defined; owner bears more cost risk (often capped with a GMP).
- Time & materials (T&M). Pay for labor + materials + markup; used for small or undefined work and many rescue/repair situations.
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