What defines a "hard bid" in the context of construction?

A "hard bid" in the context of construction is characterized by a fixed pricing structure for a clearly defined scope of work. This means that the contractor submits a proposal with a specific price that covers all aspects of the project as outlined in the contract documents. The contractor is accountable for completing the project within the agreed-upon price, and any costs beyond this fixed amount are typically the responsibility of the contractor, unless alterations are made to the scope of work.

This clear delineation of costs helps ensure that all parties have a mutual understanding of what is included in the project and what the financial implications will be, which aids in minimizing disputes over pricing as the project progresses. A hard bid typically requires comprehensive planning and estimation, as the contractor must accurately gauge the costs involved in materials, labor, and overhead to submit a competitive and viable bid.

In contrast, the other options involve elements that do not align with the definition of a hard bid, such as flexible pricing or contingencies for unforeseen costs, which are characteristics of other bidding methods that allow for price adjustments and additional considerations.