TL;DR
A pricing model where the homeowner pays for actual labor time plus materials, often with a markup. It is flexible but less predictable than a fixed bid.
What it means
A pricing model where the homeowner pays for actual labor time plus materials, often with a markup. It is flexible but less predictable than a fixed bid.
Where it sits in the glossary
Time and materials is part of the Pricing group inside the ProFix Directory glossary. Browse every term in this category from the glossary index.
Why Ohio homeowners should know it
Time-and-materials pricing means the contractor bills actual labor hours plus actual material cost, often with a markup, instead of a fixed total. It is flexible — useful when scope is genuinely unknown — but unpredictable in ways homeowners regularly underestimate.
For Ohio homeowners the safest version is T&M with a not-to-exceed cap, a written hourly rate, a written markup percentage, and a daily or weekly summary of hours and materials. Without those guardrails it becomes hard to challenge any invoice line later.
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Where this term gets mixed up
T&M vs. fixed bid
T&M shifts risk onto the homeowner. Fixed bid shifts risk onto the contractor. Neither is automatically better.
T&M without cap
Open-ended T&M can run far past initial estimates. A not-to-exceed cap protects both sides.
Where this term comes from
Standard construction contract practice.
See also
License: CC-BY-4.0 — quote freely with attribution to ProFix Editorial Team / ProFix Directory.