Is a client required to pay the full amount of contract price for work performed if the work is completed under budget?

UPDATED: Sep 18, 2014

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Is a client required to pay the full amount of contract price for work performed if the work is completed under budget?

Asked on September 18, 2014 under Business Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If the contract was to do the work for $X, then the client must pay the agreed-upon amount. If the contract or agreement was to pay "cost plus $X," or anything similar to that, then if the job comes in under budget, it would reduce the cost or charge. The issue is what the agreement was for; the terms of the agreement will control.


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