Payment Modes in Contract of Work Tendering: Cost-Plus (Reimbursable) Payment Contracts

Description

This Skill Bit explores contracts where contractors are reimbursed for actual costs incurred, along with an agreed-upon fee or percentage. These contracts are particularly suitable for projects with uncertain or evolving scopes, where precise cost estimates are challenging to establish upfront. Participants will gain insights into how to manage financial risks, control costs, and maintain transparency in cost-plus contracts to ensure project efficiency and fairness.

Duration approx. 4 Min.

Tier: proficiency