A form of contractual compensation involving payment for materials used and at agreed rates for the those involved in performing the services.
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The remodelling of the second floor will be fixed-price, but the repair work has to be on a time and material basis.

Submitted on September 01, 2009

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    "time and material." Phrases.com. STANDS4 LLC, 2021. Web. 27 Nov. 2021. <https://www.phrases.com/phrase/time-and-material_7550>.

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