What is Time-and-Material billing?

Time-and-material billing is a common form of billing used in the construction industry. This method involves charging clients based on the actual time spent on a project and the materials used. This type of billing is often used when the scope of work is uncertain or when a project requires flexible scheduling and resources.With time-and-material billing, clients are charged for the labor hours worked by contractors, as well as the cost of any materials used in the project. This allows for greater transparency and flexibility in billing, as clients only pay for the actual work and materials used, rather than a fixed price that may not accurately reflect the final cost of the project. However, this billing method can also lead to cost overruns if the project takes longer than anticipated or if additional