Lump Sum Construction Contract

Lump Sum Construction Contract

This agreement is made on {date} between {Company}, hereafter "Company," and {Contractor}, hereafter "Contractor," regarding the {Project Name} (hereafter "Project") construction project:

Having accepted the Contractor's bid, outlined the scope and design of the Project, and viewed preliminary blueprints and drawings, the Company agrees to pay the Contractor {amount of money} in a lump sum by {date} for completion of the project, according to the following stipulations:

The Contractor will complete the Project no later than {date}.

The Contractor has provided comprehensive risk assessment, soil conditions, and studies concerning preliminary construction.

The Project will include/incorporate the following elements and restrictions:

• Requested
• Requested
• Requested
• Restriction
• Restriction
• Restriction

Cost breakdown roughly addresses the following:

• Labor: {Amount}
• Materials: {Amount}
• Permits/fees: {Amount}
• Overhead and profit margin: {Amount}

Should changes be requested by the Contractor, the Company retains the right to refuse. Should the Company accept, costs will be split {ratio} and deadline extensions will be {stipulation}.

Should changes be requested by the Company, the Contractor {does/doesn't} retain the right to refuse. Should the Contractor accept, costs will be split {ratio} and deadline extensions will be {stipulation}.

The Contractor will receive an additional {amount of money} as a bonus for completing the project more than {number} days early.

The Contractor will be fined {amount of money} if the project is late by more than {number} days unless an agreement has been made between the parties to extend the project.

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(Company)

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(Date)

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(Contractor)

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(Date)

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