Contract Type
Time and Materials
Definition
Time and Materials (T&M) is a contract type (FAR 16.6) where the government pays fixed hourly labor rates (fully burdened, including profit) plus actual material costs at cost. Used when scope cannot be precisely defined. Requires CO determination that no other contract type is suitable and a ceiling price the contractor exceeds at its own risk. Contractor must maintain adequate timekeeping. Riskier for government than FFP; riskier for contractor than cost-reimbursement.
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