Time-and-material contract. Contractor accountable for doing the job, not supplying any materials. The contract owner / principal supplies necessary materials and pays a fixed rate compensation covering overhead , profit, and any other negotiated items. Contract covers a set number of labor or man hours or days, or ends when specific conditions are satisfied.
Link to This DefinitionDid you find this definition of LABOR HOUR CONTRACT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary