Unformatted text preview: profit or loss. It imposes a minimum administrative burden upon contracting parties Cost-type contracts : The "cost type contract" referred as a ballpark figure of the expected amount of money. This type of contract takes the risk out of the deal for the contractor. This contract guaranteed to the contractor on the bases of a percentage of the money or a fixed amount of money as his profit. In this type of contract Contractor's costs responsibility is minimized and Government's cost responsibility is maximized....
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- Spring '11
- Transaction cost, Fixed-price contracts, contract Contractor, cost-type contracts, lawn maintenance contract