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Various types of contracts are: Time and Material Contract ( T and M ): This is the type of contract which is used for the purchase of standard items, in this suppliers with manpower and materials are selected and are preferred. Cost Reimbursable Contract ( CR ): This is the type of contract where tRead more
Various types of contracts are:
- Time and Material Contract ( T and M ): This is the type of contract which is used for the purchase of standard items, in this suppliers with manpower and materials are selected and are preferred.
- Cost Reimbursable Contract ( CR ): This is the type of contract where the actual price is paid by the buyer that was incurred by the sellers as a fee or extra profit.
- Fixed Price Contract (FP ): This is the type of contract that uses fixed prices after the work space gets defined clearly, and an understanding of the requirements is done.
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