cost-plus contract

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cost-plus contract

[¦kȯst ′pləs ‚kän‚trakt]
(engineering)
A contract under which a contractor furnishes all material, construction equipment, and labor at actual cost, plus an agreed-upon fee for his services.
References in periodicals archive ?
Additionally, we are excited about our continued implementation of a cost plus contract drilling structure which is expected to increase margins in this segment.
60% of respondents have a negotiated rate structure for their contracts with 3PL providers, while 40% are in a cost plus contract.
Although the Defense Contract Management Agency and the Defense Contract Audit Agency are most commonly used to monitor higher risk contracts, such as cost plus contracts, they are potential resources available to assist program offices in monitoring fixed-price performance-based contracts.