In a T&M contract, the buyer is reimbursed for all previously defined costs and additional material costs of the seller to complete the product.

Question

Quizplus · Accepted Answer

In a Time and Materials (T&M) contract, the buyer reimburses the seller for the actual time spent on the project and for materials used, but not for additional material costs unless those costs were agreed upon as part of the contract.

In a T&M Contract, the Buyer Is Reimbursed for All