Time and Materials Based Pricing Sample Clauses
The Time and Materials Based Pricing clause defines a payment structure where the client is billed according to the actual time spent and materials used to complete a project or service. Under this arrangement, the service provider typically tracks hours worked and the cost of any resources or materials consumed, invoicing the client periodically based on these records. This clause is commonly used when the scope of work is uncertain or likely to change, as it allows for flexibility in project execution and ensures that the provider is compensated for all work performed and expenses incurred.
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Time and Materials Based Pricing. 2.1.1. The Supplier shall provide a rate card based on a standard definition of roles, mapped to the Skills for the Information Age (SFIA) matrix in terms of Category, Sub-Category, Skill and Level. The rate card shall detail day rates for all roles that may be provided by the Supplier under the terms of the Contract. The rate card shall be provided in the format shown in Table 1 below. (For information on the Skills Framework for the Information Age (SFIA) matrix please refer to the SFIA web-site at: ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇.▇▇).
2.1.2. For T&M based pricing the Supplier's quotation shall use the rates specified in Supplier's Contract T&M rate card set out in Table 1 below. Such rates shall be the maximum rates that the Supplier may charge for T&M based Work under the Contract for the first Annual Period. Pages 96 of 126 PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE SECRETARY OF THE COMMISSION PURSUANT TO AN APPLICATION FOR CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT; [***] DENOTES OMISSIONS.
Time and Materials Based Pricing. 4.5.2.1. When performing Services on a time and materials basis (“Time and Materials Basis”), the prices will be subject to Judicial Council agreement on a Service Work Order-by-Service Work Order basis and shall only apply to the Service Work Order in which authorized. When a Service Work Order is authorized for performance on a Time and Materials Basis, the prices for all expected Hourly and Fixed Price Services, the cost of any expected allowable Travel and Living Expenses and expected allowable Reimbursables will be added to calculate a time and materials price (“Time and Materials Price”) applicable to that Service Work Order. The applicable price(s) and costs and method to be used to calculate the Time and Materials Price are specified below. The Judicial Council may, in its discretion, include a not-to-exceed amount in any Service Work Order on a Time and Materials Basis and Contractor shall not exceed said not-to- exceed amount without prior authorization.
4.5.2.2. Contractor will be compensated for Time and Materials Basis Service Work Orders in the form of payments based upon: the hours of work actually expended in performing the Hourly Services; the price for any Fixed Price Service(s) actually performed; the actual cost for any allowable Travel and Living Expenses actually incurred (when incurred in accordance with, and in amounts not to exceed the maximum amounts specified as allowable in, the Judicial Council’s Travel and Living Expense Rules and Rates); and the actual cost of any allowable Reimbursables (in amounts at or below the Reimbursable(s) prices specified in the Service Work Order ).
4.5.2.3. In Service Work Orders authorized on a Time and Materials Basis, Contractor is, subject to the limitation of the Time and Materials Price as further elucidated below, responsible for the provision of Services and Materials specified in a Service Work Order if authorized in accordance with the provisions of the Service Work Order, for paying for any Travel and Living Expenses and Reimbursable(s) necessary to provide those Services and Materials if authorized by the Judicial Council’s Project Manager. Contractor shall be compensated solely in the form of payments for the Services, Materials, and allowable Travel and Living Expenses and Reimbursables which shall be made as specified above, however, Contractor shall not provide Services and/or Materials, incur allowable Travel and Living Expenses, or purchase allowable Reimbursable(s) past the point...