Saturday, 20 January 2018

Continuing Contract and Running Contract

Continuing Contract 
In this type of contract, new or additional work is awarded to the contractor on the basis of agreed terms and conditions of an existing contract. Such contracts do not require re-tendering and hence can save time and money.

Running Contract
Such contracts provide goods and services at specified intervals or as and when required by the owner. The contract price is not fixed and payment is based on goods supplied and services rendered as specified in the contract documents.

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