Incentive Contracts Sample Clauses
Incentive Contracts. Additionally, FAR section 16.503 Requirements Contracts; FAR section 16.601 Time-and-materials and FAR 16.602 Labor-hour Contracts are permitted Task Order contract types. However, FAR 16.503 Requirements Contracts should be limited to not exceed the ordering period of the Master Contract. Task Orders may also incorporate FAR 17.1 Multiyear Contracting and FAR 17.2 Option periods procuring Commercial-items or Non-commercial items. These contract types can be used singly or in combination within a single Task Order comprising multiple Contract Line Items (CLINS).
Incentive Contracts. 1216.406–70 DOT contract clauses.
Incentive Contracts. FAR 16.601 Time-and-materials; and FAR 16.602 Labor-hour Contracts. Task orders may also incorporate FAR 17.1 Multi-year Contracting and FAR 17.2 Option periods procuring Commercial-items or Non-commercial items. These contract types can be used singly or in combination within a single Task Order comprising multiple Contract Line Items (CLINS).
Incentive Contracts. Compensation is based on the contracting performance according an agreed target - budget, schedule and/or quality. The two basic categories of incentive contracts are • Fixed Price Incentive Contracts • Cost Reimbursement Incentive Contracts Fixed Price Incentive Contracts are preferred when contract costs and performance requirements are reasonably certain. Cost Reimbursement Contract provides the initially negotiated fee to be adjusted later by a formula based on the relationship of total allowable costs to total target costs. This type of contract specifies a target cost, a target fee, minimum and maximum fees, and a fee adjustment formula. After project performance, the fee payable to the contractor is determined in accordance with the formula.