I suspect a mix. For example the Iron Bridge contract says:
CONTRACT - Lump Sum, re-measurable, BOQ, schedule of rates, “Construct only Contract”
It would appear to be a lump sum, but with at least some items subject to a schedule of rates.
I would be surprised if clients allowed them complete flexiblity on changing all costs in a contract.
Hopefully someone can clarify.
Ann: Half Yearly Report and Accounts, page-31
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