A construction contract is a legally binding agreement between parties involved in a construction project, typically the client and the contractor. It outlines the scope of work, timelines, payment terms, and responsibilities of each party. These contracts help ensure that the project is completed as planned and provide a framework for resolving disputes. There are various types of construction contracts, including fixed-price, cost-plus, and time and materials contracts. Each type has its own advantages and disadvantages, depending on the project's nature and complexity. Understanding these contracts is essential for successful project management and compliance with legal requirements.