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Choosing contractor payment terms

Record type: Article

The paper considers how far contractual payment terms can be effective in producing project performance for a client. The mitigation of typical problems of contractor selection, motivation and risk sharing between client and contractor are examined in the context of cost plus fixed fee contracts, firm fixed price contracts, and incentive contracts.
The latter offer possible solutions to the widely acknowledged difficulties with cost plus fixed fee contracts and firm fixed price contracts. However, there are other difficulties with operating incentive contracts in practice, and these are considered in the paper.

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Citation

Ward, Stephen and Chapman, Chris (1994) Choosing contractor payment terms International Journal of Project Management, 12, (4), pp. 216-221. (doi:10.1016/0263-7863(94)90045-0).

More information

Published date: 1994
Keywords: contracts, risk allocation, incentives

Identifiers

Local EPrints ID: 35676
URI: http://eprints.soton.ac.uk/id/eprint/35676
ISSN: 0263-7863
PURE UUID: 65dd2ccf-41dd-4822-a793-c8aacfb95724

Catalogue record

Date deposited: 26 Jun 2006
Last modified: 17 Jul 2017 15:47

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