The cost in cost reimbursable contract is…?
A . Actual cost
B. Variable cost
C. Fixed cost
D. Profit
Answer: A
Explanation:
A cost reimbursable contract (sometimes called a cost plus contract) is one in which the contractor is reimbursed the actual costs they incur in carrying out the works, plus an additional fee. Option E of the NEC3 Engineering and Construction Contract (ECC) is an example of a cost reimbursable contract.
Reference:
– CIPS study guide page 176-179
– Cost reimbursable contract
LO 3, AC 3.3
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