John,a civil engineer,pays the heavy equipment provider an agreed-upon hourly rate and unit price for the various materials to be used.In the context of contract categories,this scenario is an example of a:

Question

Quizplus · Accepted Answer

This scenario fits the definition of a time and material contract, where the contractor pays for the hourly rate of the provider and the unit price of the materials used. In this type of contract, the overall cost is not fixed, and it can increase or decrease depending on the amount of time and materials used.

John,a Civil Engineer,pays the Heavy Equipment Provider an Agreed-Upon Hourly