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A cost-plus contract, also termed a cost plus contract, is a contract such that a contractor is paid for all of its allowed expenses, plus additional payment to allow for risk and incentive sharing. [1] Cost-reimbursement contracts contrast with fixed-price contract, in which the contractor is paid a negotiated amount regardless of incurred ...
In the United States, an independent practice association (IPA) is an association of independent physicians, or other organizations that contracts with independent care delivery organizations, and provides services to managed care organizations on a negotiated per capita rate, flat retainer fee, or negotiated fee-for-service basis. [1] [2]
The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin. It is essentially the same as what is known (especially in the U.S.) as a cost-plus contract. This contract form is popular to ensure that a competitive price is obtained, for instance in cases where tender competitions are impractical.
IDIQ contracts are frequently awarded by various U.S. government agencies, including the General Services Administration (GSA) [6] and Department of Defense. [7] They can be in the form of multi-agency contracts under the Government-Wide Acquisition Contracts (GWAC) system, or they may be government agency-specific contracts. [8]
California’s decision to throw out Medi-Cal contract awards and compromise with health plans has consumer advocates questioning whether state officials will be able to enforce improvements.
In September 2012, Medifast's subsidiary, Jason Pharmaceuticals, paid a $3.7 million USD civil penalty for false advertising.The Federal Trade Commission and United States Department of Justice said that advertisements for the "Medifast 5 & 1 Plan" low-calorie diet told consumers they could "lose up to 2-5 pounds per week", and that these weight-loss claims lacked a reasonable scientific basis ...
Like a cost-plus contract, the price paid by the buyer to the seller changes in relation to costs, in order to reduce the risks assumed by the contractor (seller). Unlike a cost-plus contract, the cost in excess of the target cost is only partially paid according to a buyer/seller ratio, so the seller's profit decreases when exceeding the ...
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...