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Distinguish between analogous and homologous structures.
Labor-Hour Contract
A contract in which payment is made based on the number of hours worked, typically used for projects where the scope is not clearly defined.
Hourly Rate
The amount of money paid for each hour of work.
Incentive Fee Contract
A contract type that provides additional compensation to the contractor for exceeding performance targets.
Cost Reimbursable Contract
A contract where the buyer reimburses the contractor for all legitimate costs incurred plus an additional fee for profit.
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