Common use of Fixed Lump Sum Clause in Contracts

Fixed Lump Sum. When the price is not based on fixed unit prices, it is expressed as a fixed lump sum. The price to be paid to the Contractor is an all-inclusive price covering all the expenses resulting from the supply of Products or performing of the Services or Works, including the expenses related to labour, supervision, consumables, Contractor’s Tools, design, engineering, delivery of Technical Documentation, manufacturing, testing, packaging transport, storage, quality assurance, erection, construction, commissioning and testing, coordination, handing over, travel, accommodation, Intellectual Property Rights costs, insurance costs, overheads, taxes, duties and profits.