cost-plus contract

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  • noun

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a contract in which the contractor is paid his total cost plus a stated percentage of profit

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The new cost plus contract for commercial use combines the two forms of cost plus commonly used, i.
The year-over-year increase in gross profit was primarily due to a higher percentage of overall revenues attributable to higher-margin technology products,an increase in government services margins due to the rate increase on the Company's cost plus contracts, partially offset by increased use of subcontractors in supporting the Government service revenues.
The Company is seeking a greater percentage of its business from cost plus contracts rather than fixed price contracts to avoid the issues of cost overruns.