Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 1-1 of 1 result for “Time and Materials Contract (T & M)”
  • Time and Materials Contract (T & M)

    A contract that provides for contractor payment based on a direct labor, hourly rate that includes benefits, payroll taxes, overhead, and contractor profit and for the cost of materials and equipment used in performance of the contract.

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