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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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.
Although the Defense Contract Management Agency and the Defense Contract Audit Agency are most commonly used to monitor higher risk contracts, such as cost plus contracts, they are potential resources available to assist program offices in monitoring fixed-price performance-based contracts.