116. TIME AND MATERIALS CONTRACTS AND LABOR HOURS CONTRACTS

116 TIME AND MATERIALS CONTRACTS AND LABOR HOURS CONTRACTS 116.1 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). 116.2 A labor hours contract is a time-and-materials contract that does not involve materials. Both types of contracts should specify a ceiling price. Source: Notice of Emergency and Proposed Rulemaking published at 57 DCR 8514 (September 17, 2010)[EXPIRED]; as amended by Notice of Final Rulemaking published at 57 DCR 11189, 11204 (November 26, 2010).