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What is exactly meant by a Lump Sum Contract?

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The Contract Clause reads as "The Contract is a Lump Sum Contract with no bill of quantities"?

What does this exactly mean? As far as i know the Company does submit a BOQ irrespective of whether its a Lump Sum Contract or not. Please explain

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  1. see http://answers.yahoo.com/question/index?...


  2. Lump Sum means that is the bottom line price. It basically won't be billed out hourly.
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