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Q » What is the concept of 'time and materials' contracting?
17 Oct, 2025
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A » 'Time and materials' contracting is a flexible agreement where the contractor is paid based on the actual time spent on the project and the materials used. This approach is beneficial when project scope is uncertain, allowing adjustments as needed. It includes hourly labor rates and material costs, often with a markup. Transparency and trust are crucial, as the client bears the risk of potential cost overruns.
17 Oct, 2025
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