Acquisition & Contracting
What Does T&M Stand For?
Time and Materials
Definition
A contract paying fixed hourly rates plus materials at cost. Used when the scope cannot be precisely defined.
Related Acronyms in Acquisition & Contracting
RFPRequest for ProposalRFQRequest for QuotationRFIRequest for InformationSOWStatement of WorkPWSPerformance Work StatementSOOStatement of ObjectivesLPTALowest Price Technically AcceptableIDIQIndefinite Delivery/Indefinite QuantityBPABlanket Purchase AgreementGWACGovernment-Wide Acquisition ContractMACMultiple Award ContractFFPFirm Fixed PriceCPFFCost Plus Fixed FeeCOContracting OfficerCORContracting Officer RepresentativeKOContracting Officer (alternate)COTRContracting Officer Technical RepresentativeMASMultiple Award ScheduleOASISOne Acquisition Solution for Integrated ServicesSEWPSolutions for Enterprise-Wide Procurement
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