Traditional Method

-A Fixed Price Contract involves the contractor agreeing to construct the building as specified in the drawing and Bills of Quantities ( B&Q) for the client for an agreeed suym , by an agreed date . 

Although it is called a fixed price contract it does allow for the contractor to claim additional costs for any variations to the specification . 

Although it is called a fixed price contract it does allow for the contractor to claim additional costs for any variations to the specification . 

Allowance can also be claimed by the contractor for an extension  of time if there is a delay which beyond his control . 

When constructing new building it is possible to assess the cost of the work to be done , in which case a fixed price can be the basis for the contract . 

 A fixed price can , however , be on the whole contract , a section of works or can appl to a unit rate . The price is fixed although the amount of work is not nown .