In this scenario, the organization agreed to which of the following types of contracts?

A organization finalized a contract in which a vendor is expected to design, procure, and construct a power substation for $3,000,000.

In this scenario, the organization agreed to which of the following types of contracts?
A . A cost-reimbursable contract.
B. A lump-sum contract.
C. A time and material contract.
D. A bilateral contract.

View Answer

Answer: B