Cost-Plus Contract: Definition, Types, and Example - Investopedia
2024年9月5日 · What Is a Cost-Plus Contract? A cost-plus contract is an agreement made between a project owner and a contractor to reimburse the contractor for expenses incurred and to add...
Cost-plus contract - Wikipedia
A cost-plus contract, also termed a cost plus contract, is a contract such that a contractor is paid for all of its allowed expenses, plus additional payment to allow for risk and incentive sharing. [1]
What is a Cost-Plus Contract in Construction? - Procore
2024年6月11日 · What is a Cost-Plus Contract in Construction? A cost-plus contract provides reimbursement for all of the costs associated with a construction project, plus a fee to account for the contractor’s overhead and profit.
Cost-Plus Contracts : Pros and Cons - Building Advisor
2018年6月28日 · Cost-plus, or time-and-materials, contracts are often used on jobs with a lot of unknowns and hidden conditions, such as repair work. While generally used for smaller jobs, these contracts are sometimes used for large jobs as well — even new homes.
Cost Plus Contract: What is it? Key Terms, Considerations
A cost-plus contract, also known as a cost-reimbursement contract, is a legally binding agreement where a client agrees to reimburse a contractor for project expenses and additional fees on top of a proportionate profit.
Cost-plus contracts: Everything you need to know - PandaDoc
2023年10月4日 · Cost-plus contracts reduce contractor risk by separating profit from direct and indirect project expenses. Contract variations may include incentives for early completion or exceeding specifications or fee increases if project costs rise.
Cost-Plus Contracts Defined - NetSuite
2021年4月21日 · What Is a Cost-Plus Contract? A cost-plus contract is one in which the contractor is paid for all of a project’s expenses plus an additional fee for the job. The additional fee is intended to be the contractor’s profit.
What Is a Cost-Plus Contract? | Icertis
A cost-plus contract, also known as a cost-reimbursement contract, is an agreement where the client pays the service provider for their actual expenses incurred in completing the project, along with an additional fee to cover overhead and profit.
Cost Plus Contract: Meaning, Types, Advantages, Example, and …
2022年6月16日 · Cost Plus Contract is a contract where the contractor gets profits and reimbursement for total cost, post-completion of the project.
Understanding Cost-Plus Contracts: Definition, Examples, and ...
Cost-plus, often referred to as cost-plus contracting, is a type of agreement where a client agrees to reimburse a contractor for all allowable expenses incurred during the project, in addition to a predetermined fee or profit margin.