In light of the fact that a Construction Project Contract involves an operation between individuals, they can freely agree on the terms and conditions for how the construction will develop and how it will be paid. As such, it is not strictly necessary to name the contract, since what is truly important is that the parties clearly know their rights and obligations.
Therefore, a construction project contract may be executed with the following modes:
a) With a fixed total sum (project at a lump sum price).
b) With a percentage for the building contractor of the human resources and material used (for administrative functions).
c) At unit prices (for activity/operations completed).
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