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2. Guaranteed maximum price - Wikipedia

   en.wikipedia.org/wiki/Guaranteed_Maximum_Price

   A guaranteed maximum price (also known as GMP, not-to-exceed price, NTE, or NTX) contract is a cost-type contract (also known as an open-book contract) such that the contractor is compensated for actual costs incurred plus a fixed fee, which is limited to a maximum price. The contractor is responsible for cost overruns greater than the ...

3. Time and materials - Wikipedia

   en.wikipedia.org/wiki/Time_and_materials

   Time and materials (T&M) is a standard phrase in a contract for construction, product development, or any other piece of work in which the employer agrees to pay the contractor based upon the time spent by the contractor's employees and the subcontractors' employees to perform the work, and for materials used in the construction, plus the contractor's markup on the materials used, no matter ...

4. Agile contracts - Wikipedia

   en.wikipedia.org/wiki/Agile_contracts

   Capped T&M contracts work in the sense of traditional T&M contracts. However, there is an upper limit to how much customers will have to pay. In this way, suppliers benefit with early time-frame changes while customers only have to pay up until the capped cost limit is reached.

5. Fixed-price contract - Wikipedia

   en.wikipedia.org/wiki/Fixed-price_contract

   According to the PMBOK (7th edition) by the Project Management Institute (PMI), Fixed Price Economic Price Adjustment Contract (FPEPA) is a "fixed-price contract, but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decrease) for special commodities".

6. IDIQ - Wikipedia

   en.wikipedia.org/wiki/IDIQ

   IDIQ contracts are most often used for on-call service contracts, Architect-Engineering (A-E) services, and job order contracting. Awards are usually for a specified number of base years with renewal options for additional years. These contracts typically do not exceed a total of five years in duration.

7. Cost-plus contract - Wikipedia

   en.wikipedia.org/wiki/Cost-plus_contract

   Cost-plus-incentive fee (CPIF) contracts have a larger fee awarded for contracts which meet or exceed certain performance goals, for example being on schedule and any cost savings. [1] Cost-plus-award fee (CPAF) contracts pay a fee based upon the contractor's product. An aircraft development contract, for example, may pay award fees if the ...

8. Performance-based contracting - Wikipedia

   en.wikipedia.org/wiki/Performance-based_contracting

   Contract – draft, review, workshop and finalise a contract which covers all aspects of the performance, payment and terms and conditions of the relationship; Review – conduct an analysis of the outcomes of the PBC, taking into account the differing definitions of success from the different groups involved in the contract.

9. Construction of the Second Avenue Subway - Wikipedia

   en.wikipedia.org/wiki/Construction_of_the_Second...

   The final contract, for architectural and mechanical and electrical work at 72nd, 86th, and 96th Street stations; rehabilitation of the Lexington Avenue–63rd Street station; and the Systems Contract (track, signals, and communications) for the entire Phase 1 area was awarded on June 1, 2013. [107]