Definition of cost-type contract

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cost-type contract

'cost-type contract' is an military term meaning '(DOD) A contract that provides for payment to the contractor of allowable cost, to the extent prescribed in the contract, incurred in performance of the contract'.

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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".

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