Time-and-Material (T&M) Clause Samples

Time-and-Material (T&M). This type of Release Order will provide for establishment of a NTE Ceiling Price to complete the project/job based on an advance estimate provided by the Contractor. The Contractor will then be reimbursed for actual costs up to this NTE Ceiling Price for labor at the applicable hourly rates established in this BOA at the time of issuance of the Release Order and for material, subcontracts, and special equipment plus applicable mark-ups as established in this BOA. Refer to Clause K2 – Payments Under Time and Material Contracts in the General Terms and Conditions set forth in Part II.