Meaning of time and materials contract

 

 

 

Time And Materials Contract

 

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Glossary of construction terms

 

Meaning of time and materials contract :

 

Time and materials contract: A construction contract which specifies a price for different elements of the work such as cost per hour of labor, overhead, profit, etc. A contract which may not have a maximum price, or may state a 'price not to exceed'.

 

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Glossary of construction terms

 

Time And Materials Contract

 

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Meaning and definition of time and materials contract