time and materials


time and materials
What some builders or repair people contract to provide and be paid for, rather than a fixed price or a percentage of the costs. In many states, if the person performing the work is not a licensed contractor, he or she is limited to labor and materials in any lawsuit for contract payment, and may not receive a profit above that amount.
Category: Business, LLCs & Corporations

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

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