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What is Different between Fixed price and Time and Material of the service ?

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Hello Greetings to everybody,

I would like to know regarding differences of Services Time and material and fixed price.

if anybody had know answer to this question please let me know as soon as possible.

Accepted Solutions (1)

Accepted Solutions (1)

SahalyaBegum
Employee
Employee
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Dear Boya,

Fixed Price : The item contains a fixed quantity and net value. The project invoice request is based on this quantity and value, regardless of whether more or less time or expenses than planned have been used to perform the service

. Example : Paying for a service a fixed amount regardless of hours he worked.

Time and expnese : The item containes a quantity and net values. The project invoice request is based on the quantity of the incurred actuals and value will be calculated based on the acutal quantity.

Exmaple : Paying for a service based on number of hours he had worked.

I hopes this clarified your question.

Best regards,
Sahalya

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I have mentioned about Time and Material not Time and expenses

SahalyaBegum
Employee
Employee
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Hello Boya,

Both Time and Material and Time and expenses have same behavior.

Please go thorough the project invoicng help documentation fro more ifnrmation.

Best regards,
Sahalya

Answers (0)