Time and Materials Contract: When to Use One & Best Practices
ProjectManager.com
MAY 12, 2021
There are two ways owners can pay for work done on a project. One is by a fixed price, where a contract defines what will be done and sets a specific and final price for that work. If the team takes too long to complete their tasks or requires more materials than outlined in the contract, they eat those costs. The other is a time and materials contract.
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