Time and material has elements of both the unit price and cost plus approach. The owner pays the contractor on the basis of effort expended, but there is no fee as such. An important element of this method is that these labor and equipment costs must include all indirect and overhead expenses, profit and contingency, in lieu of payment of any extra "fee." Such a contract may include a list of hourly payment rates, for carpenters etc., with a premium in normal hourly rates to include indirect expenses and overhead.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.Minneapolis Minnesota Contrato de Construcción y Construcción de Tiempo y Materiales - Propietario para Suministro de Materiales - Time and Material Building and Construction Contract - Owner to Supply Materials
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Multi-State
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Minneapolis
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US-01289BG
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