time and material

English

Pronunciation

• Audio (General Australian):

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Noun

time and material (uncountable)

1. (idiomatic, business) A form of contractual compensation involving payment for materials used and at agreed rates for the those involved in performing the services.

   Synonym: time and materials

   The remodelling of the second floor will be fixed-price, but the repair work has to be on a time and material basis.