In a fixed-price (lump-sum) contract, the contractor generally:

Giải thích

A fixed-price or lump-sum contract sets one total price for a defined scope of work. The contractor bears the risk that actual costs exceed the estimate but keeps the benefit if costs come in lower, giving the owner cost certainty. Cost-plus billing is actual costs plus a fee, unit-price bills per unit of quantity, and time-and-materials bills by hours and materials used; those are different structures with different risk allocations.