4616. TIME AND MATERIALS CONTRACTS AND LABOR HOURS CONTRACTS

4616 TIME AND MATERIALS CONTRACTS AND LABOR HOURS CONTRACTS 4616.1 Time-and-materials contracts provide for acquiring supplies or services on the basis of: (a) Direct labor hours charged at fixed hourly rates that include overhead and profit; and (b) Materials (which may be charged either at their actual cost or at fixed unit prices). A labor hours contract is a time-and-materials contract that does not involve materials. Both time-and-materials contracts and labor hours contracts should specify a ceiling price. Source: Notice of Emergency and Proposed Rulemaking published at 57 DCR 8507 (October 8, 2010)[EXPIRED]; as amended by Notice of Emergency and Proposed Rulemaking published at 58 DCR 3086 (April 18, 2011)[EXPIRED]; as amended by Notice of Final Rulemaking published at 58 DCR 4565, 4583 (May 27, 2011).