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 copntract ,a section of work or can apply to a unit rate . The price is fixed although the amount of work is not know .
The building owner will appoint a team of consultants to act on his behalf to produce construction drawings , specification and tender document and to administrator the tendering processes to selecta contractor
Once selected and awarded the contract , the contractor will carry out based on the drawings and specification prepard by the client's consultant .
Negotiated Tender
- Can be considered as an innovative approach to speed up the selection of contractor and the commencement of construction
-Involve preliminary discussion with selected few contractors , submission of fixed tender and / or cost negotiation
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