Fixed Fee - This is a fixed amount you will charge for the work. Sometimes called Lump Sum or Stipulated Sum. This can be billed in progress billings or as a single lump sum when the work is completed.
Hourly - This indicates that you will bill your client based on hours worked multiplied by one or more defined billing rates. This is sometimes referred to as Time and Materials or T&M. Our system allows you to enter a target amount that you believe will be the billed amount when all is said and done. This gives you an idea of contract value and your backlog of work. Targets can be adjusted at any time.
Hourly NTE - This is the same as Hourly with a Not To Exceed cap. If your invoice exceeds the cap a discount is added to the invoice to offset the difference.
Cost Plus - This indicates that you will bill your client based on hours worked multiplied by the pay rate of the employee with both a markup factor and profit factor applied. Our system allows you to enter a target amount that you believe will be the billed amount when all is said and done. This gives you an idea of contract value and your backlog of work. Targets can be adjusted at any time.
Cost Plus NTE - This is the same as Cost Plus with a Not To Exceed cap. If your invoice exceeds the cap a discount is added to the invoice to offset the difference.