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cost reimbursement contract
in which a
, price, or fee (profit) is used as a point of departure for various monetary-incentives (subject to a maximum amount). After
is computed on the basis of the contractor's
. The profit varies directly (in case of
underrun) or inversely (in case of cost overrun) with the difference between the contract cost and the maximum allowable cost. Also called incentive type contract.
scope of work
hold harmless c...
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Mentioned in These Terms
fixed price incentive contract
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