cost contract


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cost contract

1. A contract that provides for payment to the contractor of allowable costs, to the extent prescribed in the contract, incurred in performance of the contract.
2. A cost-reimbursement type contract under which the contractor receives no fee.
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Renowned for its world-class, never outsourced Help Desk - manned 24x7 by a live CSU professional - CSU's unparalleled support program includes critical 24 x 7 HW/SW maintenance, no cost contract management for hardware still under OEM support, disaster replacement, and remote & on-site system administration services.
RELATED ARTICLES: Face to Face: Riad Nashif, AECOM I AECOM wins $80m management contract I Aecom wins cost contract for Oman Convention hotel
However, because cost contract are used when the work cannot be predicted with sufficient confidence to support a fixed price--typically involving complex, sophisticated, emerging systems--the contractor stops work when the funds are exhausted.
Q I TOOK out life cover 10 years ago through what I thought was a low cost contract.
Boeing was recently awarded a USD25m matching cost contract from the US Federal Aviation Administration (FAA) through its Continuous Lower Energy Emissions Noise (CLEEN) programme.
This required sufficient flexibility to allow innovation to flourish while set within the framework of a target cost contract.
JLJ Effluent Engineering Limited have devised a low cost contract hire scheme to help manufacturers avoid heavy fines for pollution.
The Corps determined that a cost contract was the only vehicle flexible and responsive enough to meet the needs of maneuver commanders.
RELATED ARTICLES: Aecom wins cost contract for Oman Convention hotel | Oman osmosis goes forward as $650k plant completed | Nine bid for Oman rail design consultancy contract
This project used an NEC target cost contract ( a New Engineering Contract drawn up by the Institution of Civil Engineers ( with incentives for the contractor, "pain and gain", a sharing of savings and additional cost with the client.
The fixed cost contract, signed with Taylor Woodrow Construction, is for around pounds 48million but this does not include furniture.
To facilitate the initiative, the NYPA Board of Trustees has taken action to approve a new low cost contract that provides Battery Park City with a nearly 25 percent reduction in the cost of its electricity.