What is a T&M contract?

T&M (Time and Materials) contract is an agreement where the customer pays for the actual time spent and materials used.

Features:

• The cost is calculated based on the hourly rate of performers.
• The customer pays actual expenses, not a fixed amount.
• Flexibility in changing the scope and requirements of the project.

This type of contract is suitable when it is difficult to accurately estimate the scope of work in advance or when requirements may change during the process.