Different types of contracts used in construction and different types of tender ?

CONTRACT:

An agreement between two persons or organisation and enforced by law is called contract.
The contract system is very use full in construction field to achieve the goals at certain time.
There are no of contract following:

Types of contracts:


  1. Item rate contracti
  2. Percentage rate contract
  3. Lump sum contract
  4. Labour contract
  5. Material contract
  6. Etc..


Tender:

The tender is an offer in writing to execute some special work at certain rate ,with in a fixed time under certain conditions of contract And agreement between the contractor and owner party.

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