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.
Washington Time and Material Building and Construction Contract — Owner to Supply Materials is a legally binding agreement that outlines the terms and conditions between the owner of a construction project and the contractor. This type of contract is commonly used in the state of Washington for building and construction projects where the owner will be responsible for supplying the necessary materials. The Washington Time and Material Building and Construction Contract — Owner to Supply Materials typically includes the following key components: 1. Parties Involved: The contract identifies the owner of the property and the contractor, along with their respective contact information. 2. Scope of Work: This section outlines the specific work to be performed by the contractor, including detailed descriptions of the construction tasks and any relevant specifications or plans. 3. Timeframe: The contract specifies the start and completion dates for the project, allowing both parties to have a clear understanding of the expected timeline. 4. Material Supply: One of the distinguishing features of this contract is that the owner is responsible for providing the necessary materials required for construction. This section outlines the types and quantities of materials to be supplied and the owner's responsibility to ensure timely delivery. 5. Labor and Equipment: The contract usually details the contractor's responsibilities regarding labor and equipment, including hiring qualified workers, managing their work, and providing necessary tools and machinery. 6. Payment Terms: This section outlines the payment schedule and method, with the owner usually reimbursing the contractor for labor costs, equipment rental, and other approved expenses. Rates for labor and equipment may be included. 7. Change Orders: The contract may provide provisions for change orders, allowing for modifications to the scope of work, materials, or other aspects of the project. The process for requesting and approving change orders should also be included. There are different variations of the Washington Time and Material Building and Construction Contract where the owner is responsible for supplying materials. These variations might include specific provisions or modifications based on the unique requirements of a particular project or industry. However, the core elements mentioned above remain consistent across these different contracts. In summary, the Washington Time and Material Building and Construction Contract — Owner to Supply Materials is a comprehensive agreement that governs the relationship between the owner and the contractor, wherein the owner is responsible for providing the necessary materials for the construction project. The contract ensures that both parties understand their obligations and helps to minimize disputes and ensure a smooth execution of the project.
