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ADDITIONAL TERMS AND CONDITIONS OF AGREEMENT BETWEEN STATE AND Consultants Agreement is made this ___ day of ___ in the year Two Thousand ___, between the State of New Jersey, Department of Transportation,
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Identify the direct costs associated with the project.
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Cost plus fixed fee is a type of contract where the buyer agrees to pay the seller for the seller's allowable costs, plus a fixed fee as profit.
Government contractors and subcontractors are required to file cost plus fixed fee contracts.
Cost plus fixed fee contracts need to be filled out with detailed information on allowable costs, fixed fee amount, and profit margin.
The purpose of cost plus fixed fee contracts is to provide incentive for the seller to control costs while also ensuring a fair profit margin.
Information such as allowable costs, fixed fee amount, profit margin, and any changes to the contract terms must be reported on cost plus fixed fee contracts.
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