Author Question: When an owner pays for a contractor's labor time and the supplies that were used for construction ... (Read 59 times)

Lobcity · **on:** Jul 26, 2018

When an owner pays for a contractor's labor time and the supplies that were used for construction with a factor built into the labor rate for profit; the work is said to have been performed ________________.

A. on a unit price basis
B. on a time and materials basis
C. on a cost plus fixed fee basis
D. on a project cost basis

Question 2

Discuss which currency should be used to pay a foreign contractor if they are performing work in a host country using subcontractors that are from a country that is not the host nation and why.

What will be an ideal response?

SeanoH09 · **Reply #1 on:** Jul 26, 2018

Answer to Question 1

B

Answer to Question 2

Contractors should pay subcontractors and suppliers in the same currency as the one in which they are being paid for their work by the owner.