cost plus contract

  

Definition

Contract under which a contractor is reimbursed for the costs incurred, and is paid an agreed upon percentage of such costs as contractor's profit.

Use cost plus contract in a sentence

  • I realized that it was a cost plus contract and that meant that the contractor would be reimbursed for everything.

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  • You should try and use a cost plus contract strategy to insure that everything will go well in the deal.

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  • Contractors generally look for a cost plus contract when signing jobs, because in that case they will be paid for the job and the supplies come at no cost to them either.

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