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The 5 Key Types of Construction Contracts

There are five common types of construction contracts: lump sum (or fixed price), time and materials (T&M), unit price, guaranteed maximum price (GMP), and cost-plus. Each of these contract types...

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Time and Materials (T&M) Contracts in Construction: Guide for Contractors & Project Owners

A time and materials (T&M) contract is a construction agreement where the project owner pays the contractor for all material and labour costs on a project as well as contractor...

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Invitation to Tender (ITT) Explained for Construction

An invitation to tender (ITT) is an official document issued by a project owner that targets contractors to solicit tenders for a construction project. The ITT provides all tenderers with...

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How Construction Feasibility Studies Guide Building Decisions

There are countless steps taken by stakeholders to ensure the success of a construction project — and many questions that need answering before getting started. Can the project be built...

Procore is committed to advancing the construction industry by improving the lives of people working in construction, driving technology innovation, and building a global community of groundbreakers. Our connected global construction platform unites all stakeholders on a project with unlimited access to support and a business model designed for the construction industry.

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