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The goal of a consultant hired to do a restructuring analysis of NJ Transit was to identify $300 million in cuts for the coming fiscal year NJ Transit contract to cut $300M in costs hidden from ...
The decision to approve the contract is a departure from a stance the board took unanimously two years ago when Academy was up for a $57.4 million contract to provide bus service in Hudson County.
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 ...
18014, [16] 18016, [17] 18037, and 19121 are out of service due to damage from various incidents. 16003, 19137, [18] 20089, 20094, and 20103 have been retired due to damage from various incidents. 16002 is a training bus at NJ Transit's Central Maintenance Facility. 21253 was repainted into a Transport of New Jersey scheme. 2017 Cummins ISX12
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.
New Jersey has spent $35 million to design a new dedicated bus lane to shuttle ticketholders between MetLife and Secaucus Junction station, but the cost to construct that and a bus terminal at the ...
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