Tag «What is a turn-key contract»

Define Cost Reimbursable Contract Types with Examples

Define Cost Reimbursable Contract Types with Examples

Cost Reimbursable Contracts Also known as Cost Plus (CP) contracts.  In Cost Reimbursable Contracts, the Seller is reimbursed for completed work plus a fee representing his profit The Seller produces the original invoices to ascertain actual costs incurred Scope Creep is an inherent drawback of this contract, especially when the requirements are unclear Cost Reimbursable …