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In Schedule contract the contractor undertakes the execution or construction of specific work with all its contingencies, to complete it in all respect within a specified time for a fixed amount.(a) False(b) TrueThis question was posed to me in quiz.My query is from Contract System in portion P.W.D of Civil Engineering Drawing

Answer»

The correct choice is (a) False

Easiest explanation: In lump sum CONTRACT the CONTRACTOR undertakes the execution or construction of specific work with all its contingencies, to complete it in all respect within a specified TIME for a fixed amount. In this an owner agrees to pay a contractor a specified lump sum after the completion of work WITHOUT a cost breakdown. After work no detailed measurements are required.



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