Nov 9, 2008 22:47
15 yrs ago
9 viewers *
English term
reimbursable
English
Bus/Financial
Business/Commerce (general)
Context: So we see in the next couple of years by 2009, probably only 20-30 percent of our projects will be on a purely lump-sum turnkey basis. The remainder of the projects will most likely be on a hybrid or risk sharing basis, or purely reimbursable.
Thank you in advance!
Thank you in advance!
Responses
| 2 +5 | that will pay for itself |
Cagdas Karatas
|
| 4 | paid as it actually occurs |
dd dd
|
References
| cost-reimbursable contracts |
Demi Ebrite
|
Responses
+5
1 hr
Selected
that will pay for itself
I doubt this is one of the common usages of the term "reimbursable" but I can guess the intended meaning here. Accordingly, your text mentions three types of projects. Projects implemented on a risk-sharing basis, projects that will pay for themselves (*reimbursable*) and hybrid ones (combination of the former two).
4 KudoZ points awarded for this answer.
Comment: "Thank you, Çağdaş! Thank you, everybody!"
10 hrs
paid as it actually occurs
How much the contractor spends, how much he will be reimbursed.
实报实销
The remainder of the projects will most likely be on a hybrid or risk sharing basis, or purely reimbursable.
项目其他部分将极可能按混合或风险分担方式计价，或干脆/完全实报实销。
:)
实报实销
The remainder of the projects will most likely be on a hybrid or risk sharing basis, or purely reimbursable.
项目其他部分将极可能按混合或风险分担方式计价，或干脆/完全实报实销。
:)
Reference comments
3 hrs
Demi Ebrite
United States
United States
Native in English
&
English
Specializes in field
United States
Related KudoZ points
:
40
Reference:
cost-reimbursable contracts
From reference 1:
There are four basic types of cost-reimbursable contracts (generally used) in construction contracts.
1. Cost plus percentage fee
2. Cost plus fixed fee
3. Direct-cost reimbursable plus fixed-fee for indirect
4. Convertible contract - a more complex hybrid
Reimbursable means that the client pays the contractor a fee, plus reimburses them for actual costs associated with the job, like the construction trailer, tools, equipment rental, etc. Those are the *reimbursable* parts of the job. The client may audit and track these fees for accuracy in the accounting. The contractor's profit then lies in the percentage fee, either fixed (flat, and pre-determined) or plus, meaning a percentage is added to the reimbursable, thus the contractor would earn a higher fee based on the expenses of the job.
From reference 2:
"The majority of these new awards represent a mix of cost reimbursable, modular fabrication, engineering services and technology contracts. The balance reflects "hybrid" contracts, which provide for risk-sharing between the owner and the contractor, and smaller steel plate structure projects."
This type of contracting is proving to be a cost-saving device, and spreads the risk associated with building projects more evenly between the client and the contractor.
1. http://74.125.95.104/search?q=cache:yB3DfHoOnNEJ:www.curt.or...
2. http://biz.yahoo.com/e/080806/cbi10-q.html
URL's are not posting to the web reference section tonight - sorry.
There are four basic types of cost-reimbursable contracts (generally used) in construction contracts.
1. Cost plus percentage fee
2. Cost plus fixed fee
3. Direct-cost reimbursable plus fixed-fee for indirect
4. Convertible contract - a more complex hybrid
Reimbursable means that the client pays the contractor a fee, plus reimburses them for actual costs associated with the job, like the construction trailer, tools, equipment rental, etc. Those are the *reimbursable* parts of the job. The client may audit and track these fees for accuracy in the accounting. The contractor's profit then lies in the percentage fee, either fixed (flat, and pre-determined) or plus, meaning a percentage is added to the reimbursable, thus the contractor would earn a higher fee based on the expenses of the job.
From reference 2:
"The majority of these new awards represent a mix of cost reimbursable, modular fabrication, engineering services and technology contracts. The balance reflects "hybrid" contracts, which provide for risk-sharing between the owner and the contractor, and smaller steel plate structure projects."
This type of contracting is proving to be a cost-saving device, and spreads the risk associated with building projects more evenly between the client and the contractor.
1. http://74.125.95.104/search?q=cache:yB3DfHoOnNEJ:www.curt.or...
2. http://biz.yahoo.com/e/080806/cbi10-q.html
URL's are not posting to the web reference section tonight - sorry.
Peer comments on this reference comment:
| agree |
Romanian Translator (X)
12 hrs
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