Cost Reimbursement
/ˈkɒst rɪɪmbɜːrsmənt/
Definitions
- (n.) A contractual arrangement under which a party is paid for actual expenses incurred plus an additional payment or fee.
The government contract was a cost reimbursement agreement, ensuring the contractor was repaid for all allowable costs.
Forms
- cost reimbursement
- cost reimbursements
Related terms
See also
Commentary
Cost reimbursement contracts require clear definitions of allowable costs to prevent disputes during performance and audit.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.