King Washington Time and Material Building and Construction Contract - Owner to Supply Materials

State:
Multi-State
County:
King
Control #:
US-01289BG
Format:
Word; 
Rich Text
Instant download

Description

Time and material has elements of both the unit price and cost plus approach. The owner pays the contractor on the basis of effort expended, but there is no fee as such. An important element of this method is that these labor and equipment costs must include all indirect and overhead expenses, profit and contingency, in lieu of payment of any extra "fee." Such a contract may include a list of hourly payment rates, for carpenters etc., with a premium in normal hourly rates to include indirect expenses and overhead.

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King Washington Time and Material Building and Construction Contract - Owner to Supply Materials