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In an open-book contract, the buyer and seller of work/services agree on (1) which costs are remunerable and (2) the margin that the supplier can add to these costs. The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin.
A guaranteed maximum price (also known as GMP, not-to-exceed price, NTE, or NTX) contract is a cost-type contract (also known as an open-book contract) such that the contractor is compensated for actual costs incurred plus a fixed fee, which is limited to a maximum price. The contractor is responsible for cost overruns greater than the ...
In order to motivate employees to strive for change, open-book management focuses on a "Critical Number". The number is different for every company but it is a number that represents a prime indicator of profitability or break-even point. Discovering this Critical Number is a key component of creating an open-book company.
Open-book accounting (OBA) is a business practice which opens up an organisation's accounts to some or all of those with an interest in the organisation, including its employees and its shareholders (including those whose shareholding is managed indirectly, for example through a mutual fund) and supply chain. [1]
In finance, a forward contract, or simply a forward, is a non-standardized contract between two parties to buy or sell an asset at a specified future time at a price agreed on in the contract, making it a type of derivative instrument.
Eating at Chipotle can be a great option for those looking to make healthy choices while on the go. The fast casual chain offers a wide variety of ingredients, allowing customers to make their own ...
Can we imagine ourselves back on that awful day in the summer of 2010, in the hot firefight that went on for nine hours? Men frenzied with exhaustion and reckless exuberance, eyes and throats burning from dust and smoke, in a battle that erupted after Taliban insurgents castrated a young boy in the village, knowing his family would summon nearby Marines for help and the Marines would come ...
A bidding system in contract bridge is the set of agreements and understandings assigned to calls and sequences of calls used by a partnership, and includes a full description of the meaning of each treatment and convention. The purpose of bidding is for each partnership to ascertain which contract, whether made or defeated and whether bid by ...