What is Time and Materials?

Time and Materials is a common pricing structure used in the construction industry where the client pays for both the time spent and the materials used in a project. This pricing model provides transparency and flexibility, as clients are able to see exactly how much time and materials are being used, allowing for more accurate budgeting and cost control. Under the Time and Materials pricing structure, contractors are typically paid based on the actual hours worked by the construction crew, as well as the cost of materials used in the project. This can be beneficial for clients who want to have more control over their budget and are willing to pay for the actual time and materials used, rather than a fixed price contract. However, it is important for both parties to carefully track and document all time