![]() ![]() ![]() T&M invoicing depends entirely on the parameters set forth by the contractors and owners before beginning the work. Of course, this assumes the contractor is keeping tight tabs on expenses, tracking all materials being used and all tasks being completed. They also don't need to worry to much about turning a profit if the contractor has set a sufficient margin for labor and materials, they can simply build and bill, and the profit will come as the work proceeds. Instead, they can simply order materials and start working right away. The obvious benefit for the contractor is the ability to avoid time-consuming and expensive preparation that would otherwise go into estimates, takeoffs, discovery, and contracts. Otherwise, there would need to be either a change order to the initial contract or a drawn-out process to define the right way to proceed. ![]() The contractor can use T&M to purchase new panes and install then the same day. For example, there may have been a freak hailstorm that smashed some panes of glass. A Time & Materials (T&M) invoice is submitted whenever work is needed to be done quickly and/or for unplanned reasons. This kind of billing is referred to as Time & Materials invoicing. Unfortunately, not all construction projects proceed as planned and now and then it will be necessary to bill a little extra for unexpected work and supplies. ![]()
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