Hourly Expenses Clause Samples
The Hourly Expenses clause defines how costs incurred on an hourly basis are to be billed and reimbursed under an agreement. It typically specifies which types of work or services are eligible for hourly billing, outlines the process for tracking and reporting hours worked, and may set limits or require pre-approval for certain expenses. This clause ensures that both parties have a clear understanding of how hourly costs are calculated and paid, thereby preventing disputes over billing and promoting transparency in expense management.
Hourly Expenses. Monthly invoices shall include details supporting the hourly expenses being billed for services performed during the billing month. Supporting details shall include at a minimum: names of the individuals and/or labor categories, the number of hours worked by each, and the applicable hourly rates. Billing shall be in accordance with the Hourly Rate Schedule set forth in this BOA.