Upon Moneysworth's insistence, EID submitted a fixed-price quotation. It amounted to 20 million and an eighteen month schedule. After Moneysworth recovered from the shock, he persuaded Woody's management that the price and schedule were excessive . (For their part, EID believed that Woody's would need considerable help with their project planning and allowed foe number of uncertainties). Further negotiations follows in which EID offered to undertake the work based on a fully reimbursable contract.
Moneysworth started inquiries elsewhere but EID countered with an offer to do their own work on cost plus but solicit fixed price quotations for all sub-trade work. Under this arrangement EID would be paid an hourly rate covering direct wages or salaries, payroll burden, head-office overhead and profit. This rate would extend to all engineering, procurement, construction and commissioning for which EID would employ Schemers and Plotters for the building and industrial design work. Moneysworth felt that the proposed hourly rate was reasonable and that the hours could be monitored effectively. He persuaded Woody's directors to proceed accordingly.