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Get Item Rate Contract For O&m Of

Vites you to submit your offer in sealed envelope superscribing RFQ No. & Due date for the following services in complete accordance with enquiry documents/attachments: Name of work Bid Due Date & Time Opening of Bids on Validity of Offer Upto Date of Pre Bid Conference :ITEM RATE CONTRACT FOR O&M OF FIRE DEFENCE SYSTEM of GAIL IPS SAMAKHIALI & ITS JURISDICTION FOR A PERIOD OF 2 YEARS. : 22.08.2008 at 14:00 Hrs : 22.08.2008 at 15:00 Hrs (In case of Two Bid system tender,unpriced bids shall be.

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Time and materials (T&M) is a standard phrase in a contract for construction, product development or any other piece of work in which the employer agrees to pay the contractor based upon the time spent by the contractor's employees and subcontractors employees to perform the work, and for materials used in the ...

An item-rate contract is one in which the contractor agrees to carry out the work as per the drawings, bills of quantities, and specifications in consideration of a payment to be made entirely on measurements taken as the work proceeds, and at the unit- prices tendered by the contractor in the bill.

Lump Sum - Which means the Whole part of the Work is considered as a single unit. In this case the Contract Value is Fixed i.e also called as Fixed Price Contract. Item Rate: Which in this means all the Items that come under the Execution of a contract are classified into Items and Rates for processing the payment.

A time-and-materials contract may be used only when it is not possible at the time of placing the contract to estimate accurately the extent or duration of the work or to anticipate costs with any reasonable degree of confidence.

In the time and material (T&M) agreement, the total cost is not determined at the beginning of the cooperation as it depends on the number of hours spent on the project and the materials used to deliver it. Importantly, both parties agree on what materials will be used and on the hourly rate.

Unlike fixed-price contracts with a predetermined budget, T&M contracts bill based on actual hours worked, making it difficult for clients to predict final costs. This uncertainty can lead to financial risks, especially if the project encounters unexpected complications or scope expansions.

T&M Rates means the time and materials rates for Services calculated as the lower of (i) the hourly rates applicable to that Order or (ii) the blended time and materials rate resulting from dividing the stated fixed price for that Order by the number of hours required to carry out the applicable Services.

A Time & Materials project is billed based on the number of hours worked, at the hourly, daily, or monthly fixed billing rates assigned for that project. A Fixed Bid project is billed using a flat amount, regardless of the number of hours worked.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232