Contract Types Simplified: Fixed-Price, Time-and-Materials, and Cost-Plus
Learn the three main types of contracts – fixed-price contracts, cost-plus contracts, and time-and-materials contracts – and the advantages and disadvantages of each.
Different types of contracts explained in this video:
Firm-Fixed-Price (FFP) contract
Time-and-Materials (T&M) contract
Labor-Hour contract
Cost-Reimbursement contract
Cost-Plus-Incentive-Fee (CPIF) contract
Cost-Plus-Award-Fee (CPAF) contract
Cost-Plus-Fixed-Fee (CPFF) contract
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DISCLAIMER
Any use of other media is fair-use only. I am not a CPA or attorney and the information provided in these videos should not be construed or relied on as tax, financial, or legal advice. This video is designed for entertainment purposes only.