The form of contract that may be agreed to between Client and Contractor.
Typical examples are:
- Lump sum of services (LS),
- Reimbursable at fixed rates (RR),
- Lump Sum/Turn key (LSTK),
- Converted LSTK (CLSTK).
In the latter case, the contract starts off as a reimbursable contract and is then converted into a LSTK contract as soon as a suitable level of definition is achieved.