HOW TO SELECT A CONSULTANT: TYPES OF CONTRACTS (CHAPTER 10)

HOW TO SELECT A CONSULTANT: TYPES OF CONTRACTS (CHAPTER 10)

Title: TYPES OF CONTRACTS – Lump Sum, Time Based & More (Chapter 10) | Procurement Doodles – Sri Lanka Procurement Guide
Description:
Welcome back to PROCUREMENT DOODLES – where Sri Lanka’s procurement guidelines come to life, one doodle at a time.
You’ve evaluated, awarded, and are ready to start. But one crucial question remains: What type of contract should you use?
In this video, we cover Chapter 10 of the Guidelines and the Consulting Services Manual – the five main contract types for consultant selection.
🎯 What you’ll learn:
• Lump Sum Contract (preferred & default) – fixed price, consultant bears cost risk, ideal for precisely defined scope (feasibility studies, designs, bidding documents)
• Time-Based Contract – flexible, PE bears cost risk, close supervision required, for uncertain scope or duration
• Retainer & Success Fee Contract – for privatisation/asset sale advisers (fixed retainer + % of sale value)
• Percentage Contract – strongly discouraged for normal consultancy; permitted only for procurement or inspection agents
• Indefinite Delivery Contract (framework contract) – for on-call or unpredictable urgent services; separate delivery orders
• How to choose – decision flowchart; lump sum preferred unless clear justification for another type
📚 References:
• Guidelines for Selection and Employment of Consultants (August 2007) – Chapter 10
• Consulting Services Manual (November 2007) – Section 10.2
• National Procurement Commission (NPC), Sri Lanka
⏱ Timestamps:
0:00 – Intro: Choosing the right contract type
0:30 – Lump Sum Contract (preferred & default)
0:50 – Time-Based Contract (flexible, PE bears cost risk)
2:15 – Retainer & Success Fee (for privatisation)
3:35 – Percentage Contract (discouraged – only for agents)
4:55 – Indefinite Delivery Contract (on-call services)
5:15 – How to choose – decision flowchart
5:35 – Summary of all five types
5:50 – Series conclusion & thank you
🔔 Don’t forget to LIKE, SHARE & SUBSCRIBE for more doodle-style procurement guides.
💬 Comment below: Which contract type do you use most often in your projects?
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Видео HOW TO SELECT A CONSULTANT: TYPES OF CONTRACTS (CHAPTER 10) канала PROCUREMENT DOODLES