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The following are some factors to consider when selecting the type of contract:The uncertainty of the scope of work needed.The party assuming the risk of unexpected cost increases.The importance of meeting the scheduled milestone dates.The need for predictable project costs.

A factoring agreement is the contract between a business and a factoring company when they begin the invoice factoring process. In this agreement, the business assures the factor that they will sell their invoice in order to be advanced a specific percentage.

The correct answer is Firm Fixed Pricing Contract (FFP).

Factors to be considered when determining the contract type include:Realism of cost estimate (either through price or cost analysis).Extent of competition (results in realistic pricing).Risks and uncertainties.Type and complexity of the requirement(s).Adequacy and firmness of specifications.Likelihood of changes.More items...

The following are some factors to consider when selecting the type of contract:The uncertainty of the scope of work needed.The party assuming the risk of unexpected cost increases.The importance of meeting the scheduled milestone dates.The need for predictable project costs.

The three most common contract types include:Fixed-price contracts.Cost-plus contracts.Time and materials contracts.Jan 29, 2021

Types of contractsFixed-price contract.Cost-reimbursement contract.Cost-plus contract.Time and materials contract.Unit price contract.Bilateral contract.Unilateral contract.Implied contract.More items...?Sep 4, 2020