the time & material (T&M) contract has no definite end. The full value of thecontractis not defined at the time the contract is awarded. Therefore, similar to cost-reimbursement contract, time and material (T&M) contract can grow in value over the period they are in effect. The inherent ...
contract n. [C] 1. 契约;合同 2. 契约书;合约书 3.(桥牌)合约 4. 婚约 v. [T] 1. 缔结;订(约)(+with) 2. 承包,承办(+to) 3. 使订婚约(+ material n. 1.[C]材料,物资 2.[U]布料,织物 3.[C,U]素材,资料 4.[C]人材 5.【哲】物质 a. 1.物质的,实体的 2.肉体的,身体上的 ...
必应词典为您提供Time-and-Material-Contract的释义,网络释义: 时间和材料合同;料计价合约;
A Time and Materials (T&M) contract is normally used in construction and product development when a company or employee agrees to be paid for their “Time” and the “Material” used for the development of a product. T&M contracts are used when you can not estimate the size of the project...
aContract management is the core of the construction project management, strengthening contract management is the need for effective project management. The implementation of any construction project are based on contracts signed a series of contractors bidding the premise, ignoring the contract management...
undefined scope and unclear duration. Due to the nature of their relationship, they were able to quickly bring Finley Construction onboard. Under a T&M contract, the general contractor is likely to turn a profit as long as they’ve correctly calculated their loaded labor rate and material costs...
in the red. Adding to the difficulty, the contractor’s costs can change between the estimate and the completion of work. Materials costs could rise, laborers could drop out of the workforce, new regulations could be imposed. That’s why some contractors propose a time and materials contract....
About Time and Material Contract Template If you are supplying time or materials to any construction project, it’s essential to get everything in writing. This five page contract template is simple but effective. Using a simple template is always better than not getting it in writing at all....
Time and material contract Work agreed to between the owner and the contractor, with payment based on the contractor’s cost for labor, equipment, materials, and an add-on factor to cover overhead and profit; or based on material costs plus a specified amount per hour of labor, which inclu...
Let’s take a moment to look into the benefits and problems with time and material contracts. Depending on the situation, they could be just the kind of contract that works within a construction project. They can just as easily be a detriment and the cons might outweigh the pros, leading ...