cost-plus contract


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Noun1.cost-plus contract - a contract in which the contractor is paid his total cost plus a stated percentage of profit
contract - a binding agreement between two or more persons that is enforceable by law
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Assuming our model's firm is undertaking a cost-plus contract, its value should only be affected by a change in quantity ordered.
According to the system with which the Islamic banks work, it was necessary to adopt and accredit the cost-plus contract in mortgage financing in order for these banks to participate in the CBE's Initiative, El-Bendary explained.
Under the terms of the initial five-year cost-plus contract, the successful design firm was to assign up to 30 staff to PDO, working with existing staff and employees assigned from Shell (see the background in omt6OmanFieldsFeb4-08).
Bisti Fuels Company, LLC, a subsidiary of The North American Coal Corporation, has signed a 15-year, cost-plus Contract Mining Agreement with Navajo Transitional Energy Company, LLC, a wholly owned limited liability company of the Navajo Nation.
Work on this cost-plus contract is expected to be completed within 18 months followed by additional orders for flight systems.
Alternatively, a cost-plus contract assigns all risks to the owner.
However, contracts where the scope of work is intentionally left vague, or is better suited for a T&M or cost-plus contract, are now being awarded as fixed price contracts.
They were given a cost-plus contract with no apparent ceiling
Workers' compensation insurance satisfied part of the requirements of the cost-plus contract.
said yesterday it has won a $500-million cost-plus contract with the Libyan Ministry of Transportation for construction of a new international airport at Benghazi, energy-rich Libya's second-biggest city.