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.
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.