Business, Legal & Accounting Glossary
n. what some builders or repair people contract to provide and be paid for, rather than a fixed price or a percentage of the costs. In many states, if the person performing the work is not a licensed contractor, he/she is limited to labour and materials in any lawsuit for contract payment, and may not receive a profit above that amount. Consumers who believe they will get a better deal from someone working for labour or time and materials should beware and watch receipts and keep track of actual labour hours worked.
Time And Materials
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This glossary post was last updated: 28th April, 2020 | 0 Views.