COST PLUS FIXED FEE METHOD Clause Samples

COST PLUS FIXED FEE METHOD. Total Cost: Allowable Cost:
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COST PLUS FIXED FEE METHOD. It is agreed by the Parties hereto that the maximum allowable cost to the City for work completed by the Consultant under the terms of this Contract is the summation of the estimated allowable costs and fixed fees for the completion of work contained in EXHIBIT A, SCOPE OF SERVICES and within each Task Order. Allowable costs shall include both direct and indirect costs incurred by the Consultant which is provided for in the Consultant’s Cost Summary for each Task Order and subject to the limitations prescribed therein.
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COST PLUS FIXED FEE METHOD. The Cost Plus Fixed Fee Method is used when the SOW is fairly well-defined, but the total engineering effort required to complete the work cannot be estimated precisely. The consultant is paid an agreed- upon amount for a fixed fee, based on actual SOW completed, together with all actual costs incurred in the performance of the work and services. This is the most common method used by ▇▇▇▇▇▇▇ and reimburses the consultant for actual direct and indirect costs attributable to the project plus a predetermined lump sum amount for fixed fee (profit). Once both parties have agreed to the work effort in an executed Consultant Agreement, a change in the amount of fixed fee can only be made if the SOW changes.
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Related to COST PLUS FIXED FEE METHOD

  • Billing Method 2.6.1 To receive payment for services rendered pursuant to this contract the Contractor shall submit a fully completed invoice for work previously performed to: 2.6.2 At a minimum, the invoice shall detail the following information: 2.6.2.1 Unique invoice number; 2.6.2.2 Contractor’s name, address, and telephone number; 2.6.2.3 Date of invoice and/or billing period; 2.6.2.4 Applicable Contract No.;

  • Allocation Method (Choose one of a. or b.): a. [ ] All the same. Using the same allocation method as applies to the Signatory Employer under this Election 28. b. [ ] At least one different. Under the following allocation method(s): .

  • Payment Methodology The Grantee shall be reimbursed for actual, reasonable, and necessary costs based upon the Grant Budget, not to exceed the Maximum Liability established in Section 1. Upon progress toward the completion of the Scope, as described in Section A of this Grant Contract, the Grantee shall submit invoices prior to any reimbursement of allowable costs.

  • Data Universal Number System (DUNS) number Requirement Grantee will provide their valid DUNS number contemporaneous with execution of this Agreement.

  • Definition of Regular Straight Time Rate of Pay The regular straight time rate of pay is that prescribed in wage schedule of the Collective Agreement.