Contract and methods of contracts

What is contract? Which are the methods of contract?

For these questions please reffer following answer.

The simple definition for the contract will be as follows.

Contract is the agreement between two parties which can be enforced by law.

Work can be executed by giving the work to the contractor by inviting tenders through tender notice.<br>
Following are the various of contrct are as follows.

1. Lumpsum contrct

2. Item rate contract

3. Percentage rate contrct
    • Cost plus percentage rate contrct
    • Cost plus fixed fee contract
    • Cost plus variable fee contract
    • Cost plus variable percentage contract

4. Labour contract

5. Demolition contract

6. Fee contract

7. Target contract

8. Negotiated contract

9. Material supply contract

         These all above mentioned are the types of contract.