Posts Tagged ‘ Contract types ’

Time & Material Contracts

April 15, 2010
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Introduction These contracts are a kind of hybrid between a fixed price and the cost plus models. The model is to agree on some cost rates and use that to calculate total costs over a period such resources are used. Some legitimate expenses of material used in the contractual process are also payable. Hence...

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Plan Procurement – Contract Types

April 11, 2010
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Introduction A contract defines the exact way a procurement action will be carried out by defining the responsibilities of the seller as well as the buyer. There are two major types of these legally binding agreements. The first and the most used type are the fixed type contracts. The seller is bound by the...

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