Looking for a time and materials contract template to use for your business? We've got a template ready to be customized for your needs today.How do I fill this out? To fill out this document, first gather all required information such as your company details and insurance information. THE WORK: The Contractor shall complete all the work on the. This contract template is available in Microsoft Word format, so you can easily customize the agreement with the terms or clauses that your project requires. A time and materials contract usually specifies only the purpose of the job along with hourly labor rates and materials costs. Contractor shall be paid within a reasonable time after Contractor submits an invoice to Client. C reserves the right to modify this Agreement and. SOWs. The Parties' agreement to such modifications shall be set forth in a revised SOW.