In the construction projects, the contract, which is the most important behavior norm, determines the rights and responsibilities of client and contractor. All engineering activities aim at implementing and carrying out the articles of the contract. However, as the key component of the contract, the type of contract price determines the distribution mode of most of the engineering risk between client and contractor. In this paper, the most popular types of contract price used in the international construction projects are introduced. The advantages and disadvantages of each type and the distribution mode of the engineering risk between client and contractor are analyzed. At the end, some advice are given to the clients that they should choose the proper type of contract price and have innovation according to the characteristics of certain project and the situation of themselves.