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CONTRACTOR EXPENSE REIMBURSEMENT SOFTWARE
CONTRACTOR EXPENSE REIMBURSEMENT PLUS

Cost-plus-incentive-fee (CPIF) contracts: The contractor receives reimbursement and an adjustable fee.

Revisions could occur if the work originally in the agreement changes in the course of the project. This fee is negotiated when the contract is finalized and will not change depending on the project cost.

CONTRACTOR EXPENSE REIMBURSEMENT PLUS

Cost-plus-fixed fee (CPFF) contracts: Here, the contractor receives reimbursement plus a predetermined fee.

The customer will then reimburse the contractor for a certain portion of the expenses.

Cost-sharing contracts: The contractor agrees to assume and share some of the contract expenses.

Cost contracts: The contract only requires payment for the actual costs of the project.The prime contractor is usually not permitted to exceed this estimate without permission.Ĭost reimbursement contracts come in many forms, including: In most cases, the vendor provides a cost estimate that helps determine the total budget for the project. The final pricing is determined once the project is finished or on a date set in the contract. These costs may be both direct and indirect. There are tools available to better manage your cost-reimbursement contracts throughout your business.Ī cost-reimbursement contract requires a buyer to cover the costs of any work that is completed. You can even sign electronically to further streamline the contract acceptance process.

You can utilize standardized forms that require little editing to complete the next deal. It can track these agreements and improve your processes throughout the contract management lifecycle.

CONTRACTOR EXPENSE REIMBURSEMENT SOFTWARE

Your business needs to track complex information like estimates, project dates, renewals, and much more.Ĭontract management software is the solution to handling your cost-reimbursement agreements. There are several forms of cost-reimbursement contracts, each of which creates unique challenges when trying to manage them. The final pricing of the deal is determined later based on the underlying deal and the actual costs it took to complete a project. A cost-reimbursement contract is an agreement between two parties to provide payment for allowable costs incurred by the other party.