Time and Materials contracts, typically referred to as T&M, is an arrangement whereby a client pays for work completed by a contractor, or service provider, and for any materials or resources used.
A T&M contract would usually be the preferred model for assignments where requirements and scope can not easily be defined, or work is of a BAU (Business as Usual) nature.
When working with idpp, T&M contractors would typically operate within IR35 and via an umbrella company and be paid on a day rate.
Days – The client is only responsible for paying for days worked. There are no extra hidden costs.
Flexibility – if the scope of the work changes, there are no complex change processes to follow
Cost Control – The client is able to adapt quickly due to internal or external changes that may impact budget.
Scalability – Onboarding is typically much quicker for T&M contractors, supporting assignments where situations are likely to change quickly.
Whilst T&M will provide benefits to many of our clients, it is important to assess if this is the correct model for your business. For assignments that are project based, or the scope of the assignments is more defined, you may wish to consider our Work Package/Fixed Term solutions instead. You can find further information on these here (link)
This method would work for you when no clear deliverables can be scoped, or you have a skills shortage which needs to be filled urgently.
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