Cost reimbursable contract definition

Cost reimbursable contract means a contract that provides for payment of incurred costs to the extent prescribed in the contract, with or without a fixed fee.
Cost reimbursable contract means a contract that provides for payment of incurred costs to the extent prescribed in the contract, with or without a fixed-price. Cost reimbursable contracts are not allowed under the Terms and Conditions of this solicitation.
Cost reimbursable contract means a contract that provides for

Examples of Cost reimbursable contract in a sentence

  • Cost reimbursable contract means a contract that provides for payment of incurred costs to the extent prescribed in the contract, with or without a fixed fee.

  • Cost reimbursable contract A cost reimbursable contract shall be used— (a) for emergency work where there is insufficient time to calculate fully the costs involved; (b) for high risk works, where it is more economical for the procuring and disposing entity to bear the risk of price variations than to pay a provider to accept the risk or where the provider does not accept the risk.[section 88H inserted by section 43 of Act 11 of 2011] 88I.

  • Cost reimbursable contract means a contract that provides for payment of incurred costs to the extent pre- scribed in the contract, with or without a fixed fee.

  • ClauseStatement Data1General The conditions of contract are the core clauses and the clauses for main Option: E: Cost reimbursable contract dispute resolution OptionW1: Dispute resolution procedure and secondary Options X18: Limitation of liability X19: Task Order Z: Additional conditions of contract of the NEC3 Term Service Contract (April 2018) The Employer is (name):DEPARTMENT OF PUBLIC WORKS & INFRASTRUCTURE FREE STATE Address OR Tambo Building, Cnr St Andrews and Markgraaff, Bloemfontein.

  • Cost reimbursable contract is an agreement in which the employer or client come to an agreement to settle the total material and labor cost in addition to a fee to cater for the employee’s or contractor’s overhead cost and profit.

  • Cost reimbursable contract includes the payment of the real fees, procurements and or expenditures caused from the construction activities directly (Rodriguez, 2011).

  • Cost reimbursable contract A cost reimbursable contract is the contract where a party is reimbursed with all the allowable or predetermined expenses.

  • Contract optionsThese commissions may use the following main contract options: A – Priced contract with activity scheduleC – Target contract with activity schedule E – Cost reimbursable contract The letters A,C,E are designated within NEC3 contracts.

  • All applications will be acknowledged and placed on the Register.

  • A Cost reimbursable contract does not transfer risk to the seller, rather, the risk is with the buyer.


More Definitions of Cost reimbursable contract

Cost reimbursable contract is a type of contract, which reimburses the vendor for costs, incurred under the contract but does not provide for any other payment to the vendor, with or without a fixed fee. In a cost-reimbursable contract, allowable costs will be paid from the non-profit school nutrition account to the vendor net of all discounts, rebates and other applicable credits accruing to or received by the vendor.

Related to Cost reimbursable contract

  • Reimbursable Costs means expenses incurred by the employee in the course of engaging in the planned learning activity and include registration, tuition and examination fees as well as textbooks/discs and applicable taxes. They may also include reasonable, incremental meal, accommodation and travel expenses.

  • Cost-reimbursement contract means a contract under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms and the provisions of this code, and paid a fee, if any.

  • Company Reimbursable Costs means the actual costs and expenses incurred by Company and/or its Affiliates in connection with performance of the Company Work or otherwise incurred by Company and/or its Affiliates in connection with this Agreement, and including, without limitation, any such costs that may have been incurred by Company and/or its Affiliates in connection with the Company Work or this Agreement prior to the Effective Date. These Company Reimbursable Costs shall include, without limitation, the actual expenses for labor (including, without limitation, internal labor), services, materials, subcontracts, equipment or other expenses incurred in the execution of the Company Work, all applicable overhead, overtime costs, all federal, state and local taxes incurred (including, without limitation, all taxes arising from amounts paid to Company that are deemed to be contributions in aid of construction), all costs of outside experts, consultants, counsel and contractors, all other third-party fees and costs, and all costs of obtaining any required permits, rights, consents, releases, approvals, or authorizations acquired by or on behalf of Company, including, without limitation, the Required Approvals.

  • Allowable Costs means the costs defined as allowable in 42 CFR, Chapter IV, Part 413, as amended to October 1, 2007, except for the purposes of calculating direct medical education costs, where only the reported costs of the interns and residents are allowed. Further, costs are allowable only to the extent that they relate to patient care; are reasonable, ordinary, and necessary; and are not in excess of what a prudent and cost-conscious buyer would pay for the given service or item.

  • Reimbursable item also means “allowable cost” and “compensable item.”

  • Cost Reimbursement means a contract which provides for a fee other than a fee based on a percentage of cost and under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms.

  • Unallowable Costs has the same meaning as in 44 Ill. Admin. Code Part 7000.

  • Allowable Cost means a cost that complies with all legal requirements that apply to a particular federal education program, including statutes, regulations, guidance, applications, and approved grant awards.

  • Original contract price means the award price of the contract; or, for requirements contracts, the price payable for the estimated total quantity; or, for indefinite-quantity contracts, the price payable for the specified minimum quantity. Original contract price does not include the price of any options, except those options exercised at the time of contract award.

  • Ineligible Costs means those costs set out under section E2.1 of Schedule “E” of this Agreement.

  • Eligible Costs means the actual costs reasonably incurred by the Recipient:

  • Independent expenditure means an expenditure by a person:

  • Start-Up Costs means all fees, costs, and expenses incurred in connection with establishing the State Mitigation Trust and the Indian Tribe Mitigation Trust and setting them up for operation. Start-up costs shall not include the cost of premiums for insurance policies.

  • Applicable Contracts has the meaning set forth in Section 2.1(d).

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Reasonable Costs means the reasonable actual costs and expenses incurred by us in carrying out any further Audit under this Contract, including, but not limited to, reasonable travel and subsistence costs;

  • Cure Costs means any and all amounts, costs or expenses that must be paid or actions that must be performed pursuant to Sections 365(b) and (f) of the Bankruptcy Code in connection with assignment and assumption of any Service Contract, as ultimately determined by the Bankruptcy Court.

  • Controllable Operating Expenses means all Operating Expenses except real property taxes, all forms of insurance, utility expenses, costs of services provided under a union contract, payments under CC&R’s or to an owners’ association and costs associated with repairs due to casualty, vandalism or other source outside of Landlord’s reasonable control.