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What type of contracts are often open-ended contracts that are used to bring in temporary help or subject matter expertise?
Fixed Price Incentive Fee
Cost Plus Award Fee
Time and Materials
Other
Cost Plus Incentive Fee
Cost Plus Fixed Fee
Time and Materials (T&M) are hybrid contracts that combine fixed elements, because the unit rates or hourly rates are fixed but the amount of goods is not fixed. These are often open-ended contracts that are used to bring in temporary help or subject-matter expertise. Profits are built into hourly or unit rates. This type of contract may have a "not to exceed" (NTE) limit on them to contain cost growth.
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