Time and Materials Contract – Not to Exceed Amount Clause Samples

A Time and Materials Contract – Not to Exceed Amount clause sets a maximum limit on the total compensation that can be billed under a time and materials agreement. This means that while the contractor is paid for actual hours worked and materials used, the total charges cannot surpass the agreed-upon cap, regardless of the actual costs incurred. For example, if the contract specifies a $50,000 not-to-exceed amount, the contractor cannot invoice beyond this sum even if additional work or materials are required. The core function of this clause is to protect the client from unexpected cost overruns while still allowing flexibility in project scope and billing.
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Time and Materials Contract – Not to Exceed Amount. The Contractor shall perform the Services and shall invoice the City for work performed based on the rates and/or compensation methodology described in Exhibit A. Total compensation (including all reimbursable expenses) shall not exceed Sixty-five Thousand Dollars ($65,000) for the first year, and an amount to be determined any subsequent years.
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