(time and materials) n. what some builders or repair people contract to provide
and be paid for, rather than a fixed price or a percentage of the costs. In many
states, if the person performing the work is not a licensed contractor, he/she is
limited to labor and materials in any lawsuit for contract payment, and may not
receive a profit above that amount. Consumers who believe they will get a better
deal from someone working for labor or time and materials should beware and watch
receipts and keep track of actual labor hours worked.
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