A change order is a written amendment to the contract signed by the Owner and the Contractor stating their agreement upon a number of things. Which one of the following will not be part of their potential agreement for executing a change order?   a. A scope of change in the work   b. The method of price adjustment   c. The method of holdback releases   d. The amount of the adjustment in the contract price   e. The extent of the adjustment in the contract time

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Types of Contracts

A verbal or written agreement between a person and a firm, for undertaking construction, material supply, maintenance, and repair work which is enforceable by law is termed as a contract. The person who undertakes the contract for execution of the work is termed as a contractor. The contracts are classified into different types depending on the nature of the contract.