Time and Materials Contracts. The Basic Contract ceiling rates are very useful pricing references for OCOs to incorporate into their price analysis document.
Time and Materials Contracts. Recipients may use “time and materials” contracts only in circumstances in which no other contracting instrument is available, and there is a cap on the amount of the contract that the contractor exceeds at its own risk. 2 CFR 200.318(j). A time -and -materials contract is one in which the contract price is the sum of the cost of materials plus fixed labor hours that are “loaded” with wages, overhead, and profit such that the contractor has no incentive to control costs. Additional information on time and materials contract rules is available at 2 CFR 200.318(j)(2).
Time and Materials Contracts. The City entity may use a time and materials type contract only after a determination that no other contract is suitable and if the contract includes a ceiling price that the contractor exceeds at its own risk. Time and materials type contract means a contract whose cost to a City is the sum of:
Time and Materials Contracts. Each professional services job order under which Seller is providing services or is obligated to provide services constitutes a "time and materials" Contract; that is, the applicable client is obligated to pay Seller for services rendered on an hourly or other ratable basis, based upon the number of hours (or other time unit measurement) of services rendered by Seller, and the client is additionally obligated to reimburse Seller for travel and living expenses that Seller actually incurs in rendering such services, all without any not-to-exceed or fixed-fee limitations.
