NOUN
- a contract in which the contractor is paid his total cost plus a stated percentage of profit
How To Use cost-plus contract In A Sentence
- The contract was found to be a cost-plus contract with a $65,000 ‘estimate’ and a fixed contractor's fee of $5,000.
- In the lecture he also examined the notions of cost and cost accounting in relation to the pricing of cost-plus contracts during the second World War.
- A cost-plus contract provides that the owner will reimburse the contractor for all construction costs and pay a fee for his services.
- In 1940, Congress authorized cost-plus contracts and advance payments.
- It's a no-cap, cost-plus contract, with no estimate of its total worth given.
- This results in a cost-plus contract with a guaranteed maximum price, he explains.
- Whether you have a cost-plus contract or a fixed price, whether your customer is in-house or external, the analysis we have performed provides an accurate view of progress for both cost and schedule.
