A contract that requires the client to pay all costs incurred by the contractor (including actual cost for the labor, materials, etc.) plus a fixed fee or percentage of the total costs as an additional amount for profit.
A Cost-Plus is an agreement where the client agrees to pay the contractor for the actual costs incurred during construction, plus an additional fee or percentage for overhead and profit. This type of contract provides flexibility in cases where project scope or costs are uncertain, but it also requires careful tracking and documentation of expenses to ensure transparency and fairness.
Contract where the client pays for actual costs plus a fee.
