lump sum contract
Definition
Written agreement under which a principal (customer or owner) agrees to pay a contractor a specified amount, for completing a scope of work (involving a variety of unspecified items of work) without requiring a cost breakdown.
lump sum contract is in the Agreements & Contracts and Purchasing & Procurement subjects.
lump sum contract appears in the definition of the following term: stipulated sum agreement
This content can be found on the following page:
http://www.businessdictionary.com/definition/lump-sum-contract.html
email to a friend print this definition cite this definition








