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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Cost-plus contracts allow the government and contractor to share risk by giving the government the option to continue funding a weapon program above a contractor's initial estimate. TRW announced three big contract wins since August: an $868 million cost-plus contract from the Defense Department to begin development of the Space-Based Infrared System Low missile defense element; a $2. At Fort Sill, Oklahoma, Northrop's cost in the first two years of a cost-plus contract exceeded its bid by $14. |
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