A Stipulated Price contract, also known as "Plans and Specifications" refers to a fixed price or lump sum. Clients who choose this contract mode also choose peace of mind, knowing the cost of the work is firm.
The purpose of this method is to regroup all labour, products, and services required for the execution of the work by the contractor, in conformance with the client's drawings and specifications. The contractor then carries out the work accordingly, while overseeing labour and ensuring compliance with workplace health and safety laws.
The price can fluctuate only as a result of change orders issued by the client or the client's consultants. The work will be performed as expected and as defined by the documents drawn up by the consulting engineers and architects. Deficiencies, if any, will be corrected by the contractor, who takes full responsibility for the work, suppliers and personnel under each subcontracted specialty.
Pomerleau has extensive experience in this type of contracting. The company has, in fact, developed and refined its expertise through more than 500 projects in this contractual mode.