Payment Modes in Contract of Work Tendering: Cost Reimbursable or Cost-Plus Contract

Description

This Skill Bit explains contracts where contractors are reimbursed for actual project costs, plus an additional fee. These contracts are well-suited for projects with uncertain scopes or complex, evolving requirements. You will learn how to manage cost tracking effectively, ensure transparent communication, and mitigate risks, while understanding the importance of clear documentation to control costs and protect both parties in this flexible contract model.

Duration approx. 4 Min.

Tier: proficiency