Time & Material definition
Examples of Time & Material in a sentence
In accordance with Article Five of the Agreement, the Owner will compensate the Firm in accordance with the following method(s): Negotiated Lump Sum Lump Sum Plus Reimbursable Costs Time & Material (negotiated hourly rate) Cost Plus Fixed Fee, as provided in the attached proposal.
Time & Material Rates include all Contractor costs, overhead and profit for the Work.
Time & Material Rates and the Not To Exceed Price include all Contractor costs, overhead and profit for the Work.
During the performance of the work, the Engineer shall keep labor, equipment and material use (Time & Material) records to be used to report on the T&M used for every major facet of the work.
Design-Builder will provide assistance to the Owner on a "Time & Material" basis for design and/or construction of the Fire Protection Systems required for the plant.
Cleaning and re- finishing of the interior of the cars and exterior of hoist way door frames, if requested by Purchaser, shall be a Time & Material rate via a purchaser order.
The term “Force Account Work” means Change Order Work for Time & Material (T&M) that occurs when the entire cost of the proposed change cannot be estimated.
The final cost should be clearly written as either as a “not to exceed Time & Material cost”, or a “Lump Sum” cost, or a combination of the two (when applicable).
Any labor expended on Services not required to accomplish the AD will be allocated as appropriate either to the PBTH Rate or to the Delta Time & Material Rate as provided elsewhere herein.
Final pricing on Time & Material Change Orders must be received within 10 days of completion of the extra work.