4716. TIME-AND-MATERIALS CONTRACTS AND LABOR HOURS CONTRACTS

4716 TIME-AND-MATERIALS CONTRACTS AND LABOR HOURS CONTRACTS 4716.1 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. 4716.2 A labor hours contract is a time-and-materials contract that does not involve materials. 4716.3 Time-and-materials contracts and labor hours contracts shall specify a ceiling price. SOURCE: Notice of Emergency and Proposed Rulemaking published at 58 DCR 8805 (October 14, 2011)[EXPIRED]; as amended by Notice of Final Rulemaking published at 59 DCR 985, 1002 (February 10, 2012).