Cost plus contract,
Definition of Cost plus contract:
Contract under which a contractor is reimbursed for the costs incurred, and is paid an agreed upon percentage of such costs as contractors profit.
How to use Cost plus contract in a sentence?
- You should try and use a cost plus contract strategy to insure that everything will go well in the deal.
- Contractors generally look for a cost plus contract when signing jobs, because in that case they will be paid for the job and the supplies come at no cost to them either.
- I realized that it was a cost plus contract and that meant that the contractor would be reimbursed for everything.
Meaning of Cost plus contract & Cost plus contract Definition