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Food Service Management Company Cost Reimbursable Contract HartlandLakeside JT. #3 School District Hartland, WI February 20151Wisconsin Department of Public Instruction Tony Evers, State Superintendent Madison,

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How to fill out cost reimbursable contract

01

Step 1: Identify the project scope and objectives.

02

Step 2: Determine the cost elements and categories that are to be reimbursed.

03

Step 3: Agree on a suitable payment method for reimbursement, such as cost-plus-fee or cost-plus-percentage.

04

Step 4: Create a contract document that clearly outlines the reimbursement terms and conditions.

05

Step 5: Include any necessary clauses or provisions regarding cost control and reporting.

06

Step 6: Specify how and when the contractor will be reimbursed for the incurred costs.

07

Step 7: Ensure that proper documentation of costs is maintained by the contractor.

08

Step 8: Establish a process for reviewing and approving the reimbursable costs.

09

Step 9: Set up a mechanism for resolving any disputes or disagreements regarding the reimbursement.

10

Step 10: Regularly monitor and evaluate the contractor's performance and adherence to the cost reimbursable contract.

Who needs cost reimbursable contract?

01

Cost reimbursable contracts are typically used in industries and projects where there is a high degree of uncertainty in terms of costs, scope, or duration.

02

Entities that require flexibility in their contracts and want to share the risks associated with the project costs often opt for cost reimbursable contracts.

03

Government agencies, construction companies, research organizations, and other project-based industries commonly use cost reimbursable contracts.

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