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cost contract

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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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The stadium cost us around pounds 130m, although the real cost was much higher but, thanks to a fixed cost contract and Laing's honouring that contract, that is what we paid.
This required sufficient flexibility to allow innovation to flourish while set within the framework of a target cost contract.
Cost contract award fee consideration would be limited, too.
 
 
 
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