Reimbursable Cost
/rɪˈɪmbɜːrsəbl kɒst/
Definitions
- (n.) An expense that a party is entitled to recover from another under the terms of a contract or law.
The contractor submitted the invoice for reimbursable costs incurred during the project.
- (adj.) Qualifying expenses or charges that are subject to repayment or compensation.
Reimbursable costs must be clearly documented to qualify for reimbursement.
Forms
- reimbursable cost
- reimbursable costs
Related terms
See also
Commentary
Reimbursable costs often require prior contractual authorization and adequate documentation; attention to contract terms is essential to determine eligibility.
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.