Common use of Time and Materials Clause in Contracts

Time and Materials. Work performed on a time and materials basis shall be calculated as the sum of Allowable Costs, plus applicable Contractor Markup, as set forth herein. The above methods are the exclusive methods for calculating adjustments to the Contract Sum. Under no circumstances will adjustment to the Contract Sum be based upon any methodology such as total cost or modified total cost methodologies that purports to calculate Contractor’s additional costs based on the difference between Contractor’s total actual Project or line item costs and its original bid estimate for the Project or any original bid estimate line item.

Time and Materials. Work performed on a time and materials basis shall be calculated as the sum of Allowable Costs, plus applicable Contractor Markup, as set forth herein. .. The above methods are the exclusive methods for calculating adjustments to the Contract Sum. Under no circumstances will adjustment to the Contract Sum be based upon any methodology such as total cost or modified total cost methodologies that purports to calculate Contractor’s additional costs based on the difference between Contractor’s total actual Project or line item costs and its original bid estimate for the Project or any original bid estimate line item.