Time And Materials Contract
Time And Materials Contract
This Time and Materials Contract Agreement is made on this day, [Date], by and between [Your Company Name], having its registered office at [Your Company Address] hereafter referred to as "Party A", and [Party B's Company Name], having its registered office at [Party B's Company Address] hereinafter referred to as "Party B."
1. DESCRIPTION OF SERVICES
Party A will provide software development services "Services" to Party B as mutually agreed, subject to the terms and conditions of this Contract. A detailed description of the scope of work, requirements, and specifications of the Project shall be as defined in Attachment A.
2. TERM
This Contract shall begin on [Start Date] and end on [End Date] unless earlier terminated as provided herein.
3. COMPENSATION
The compensation for the Services will be on a time and materials basis. Party B agrees to pay for Party A’s services at the rate per hour, as outlined in Attachment B. Party A shall invoice Party B monthly for all services performed under this Contract.
4. CHANGES AND REVISIONS
The Parties acknowledge and agree that the scope of work and schedule may evolve throughout the project. Any changes to the scope of work, requirements, or schedule must be mutually agreed upon and will be subject to an adjusted fee.
5. CONFIDENTIALITY
Both Parties agree to keep all information, data, drawings, specifications, documentation, and other items provided to them by the other party confidential.
6. TERMINATION
Either Party may terminate this Contract upon giving the other Party written notice of such termination. Upon termination, Party B shall pay Party A for all Services provided up to the date of termination.
7. GOVERNING LAW
This Contract shall be governed by the laws of the [Jurisdiction/Location].
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written.
[Your Name]
[Date Signed]
[Party B's Representative Name]
[Date Signed]
