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Simple English definitions for legal terms

cost-plus contract

Read a random definition: Court of Appeal

A quick definition of cost-plus contract:

A cost-plus contract is an agreement between two or more parties that creates obligations that are enforceable by law. It is a type of contract where the buyer agrees to pay the seller for the cost of the goods or services provided, plus an additional amount for profit. This type of contract is often used in construction projects or when the cost of the goods or services is uncertain. The seller is incentivized to keep costs low, as their profit is tied to the cost of the project.

A more thorough explanation:

A cost-plus contract is a type of contract between two or more parties that creates enforceable obligations. In this type of contract, the buyer agrees to pay the seller for the cost of the goods or services provided, plus an additional amount for profit or overhead expenses.

For example, a construction company may enter into a cost-plus contract with a client to build a new office building. The contract may specify that the client will pay the construction company for the cost of materials, labor, and other expenses, plus an additional 10% for profit.

Another example is a software development company entering into a cost-plus contract with a client to create a new software program. The contract may specify that the client will pay the software development company for the cost of the developers' time, equipment, and other expenses, plus an additional 20% for overhead expenses.

These examples illustrate how a cost-plus contract works by allowing the seller to recover their costs and make a profit or cover their overhead expenses. The buyer benefits by knowing exactly what they will pay for the goods or services provided, and the seller benefits by being able to recover their costs and make a profit.

cost-of-living index | cost-push inflation

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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