Time & Materials definition

Time & Materials means that Services Fees shall be calculated, invoiced and paid based on the following concepts:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Time & Materials means services and materials which are billed at the rates set forth in Exhibit E being charged by OneNeck.

Time & Materials or “T&M” means a contract basis where payment is made for: (i) the delivery of direct labor hours at an agreed upon fixed hourly rate; and (ii) the reimbursement of related direct non-labor expenses; all pursuant to a specified scope of work.

Examples of Time & Materials in a sentence

• For projects billed on a Time & Materials basis, the following additional information must be included: • Invoices shall include description of work, # of hours worked if applicable, including copies of time sheets and a certified payroll following the USDOL form (or comparable); • Copies of original receipts for all materials purchased or costs incurred as a result of the scope of work.

• Unless otherwise set forth in the applicable SOW, the Services Fees shall be calculated using a Time & Materials model.

• Unless otherwise set forth in the applicable SOW or Proposal, the Services Fees shall be calculated using a Time & Materials model.

• With respect to such assistance provided by SAP, such may, at SAP’s discretion, be deemed as services that and as such shall be chargeable by SAP on a Time & Materials basis.

• Consulting Fees This engagement will be conducted on a Time & Materials basis.

• The recordkeeping requirement that currently apply to payments for Time & Materials for extra work are expressly made applicable to regular work that is paid for on a T & M basis.

• Contractor shall pay all Customer approved time in accordance with EXHIBIT A: Time & Materials Payment Terms.

• Time & Materials (“T&M”): Start Date: / / End Date: / / ₿1440 per HOUR/DAY for a Global Master Consultation -OR- Fixed Price: ₿1440 PRICE PER PROJECT Start Date: / / End Date: / / The fee for Services described in this Schedule shall be: The World Currency Amount following completion of the Services.

• The not to exceed price for the Early Work of this Early Work Amendment Number XXXX (X) shall be: $XXX SERVICES COMPENSATION $ 0.00 Fixed Fee $ 0.00 Fixed Fee $ 0.00 Time & Materials Original Agreement Price $ 0.00 Previous executed Amendments $ 0.00 Unless expressly modified in this Amendment or prior Amendments, all terms and conditions of the Agreement remain unchanged and in full force and effect.

• A variety of reimbursement payment methods may be used, such as Time & Materials, Upset Limit Fee or Lump Sum Fee, due to nature of the work task order.

More Definitions of Time & Materials

Time & Materials means a pricing model whereby Fees are calculated based on time actually spent, and materials actually consumed, by Mphasis or its Representatives in the performance of the Services.

Time & Materials means that Services Fees shall be calculated, invoiced and paid based on the following concepts: a) Services Fees shall be calculated by multiplying the number of hours/days worked by OT in respect of the Services by the applicable hourly/daily rate set forth in the applicable SOW or Proposal, b) Milestones and acceptance criteria set out in the applicable SOW or Proposal shall only be used for project management purposes, and shall not affect OT’s ability to invoice the Customer for applicable Services Fees and Expenses, c) Customer is obligated to pay for completed Services as invoiced, regardless of whether all Services in the SOW or Proposal have been completed, and d) any reference to “total estimated services fees and expenses”, “total fee”, “maximum fee”, “fee quote” or “quoted fee” (or other similar phrases) shall be deemed to be a good faith estimate of the aggregate Services Fees which is provided for planning and budgeting purposes only, and shall not be deemed to be a binding guarantee that all of the Services will be provided for an aggregate Services Fee equal to or less than such estimate. 5.2 Модель времени и материалов. Если иное не установлено соответствующим РОУ или Предложением, Стоимость услуг должна рассчитываться с помощью "Модели времени и материалов". В контексте настоящего Соглашения, “Время и материалы” означает, что при расчете, выставлении счетов и оплате Стоимости услуг необходимо использовать следующие понятия:

Time & Materials means dayworks based on actual time and materials used specifically for one project at any time recorded on daywork sheets and billed in accordance with agreed rates and percentage mark-up;