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.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
As a result, Cost Plus contracts require considerable customer oversight to ensure that only permissible costs are charged and that the 3PL is complying with reasonable cost controls.