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When Should a Time and Materials Contract be Used
In any construction project, the time and materials contract plays a vital role. The contract must align with the operating procedure. It will also meet the essential requirements of the job and will cover all the expenses as well as overheads. Without the contract that covers all these bases, your business can be at risk. So, the main question is, when should a time and materials contract be used?
When Should a Time and Materials Contract be Used? - How does it Work?
Generally the construction contracts come with two choices: The fixed-price model and the time and materials (T and M) contract. You need to read on to learn about T and M contracts, and when you should use them. There are four different scenarios where you can use this contract to benefit the project. These are:
1. Unpredictable Scenarios
When you exactly know the time frames, requirements as well as the exact specification of the job even before the job has started, the costs can be estimated. But when the client is not sure and doesn’t have a clear vision regarding his wants, then it can be unpredictable. One of the many advantages of time and material contracts is how flexible it can ... more

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