time and materials contract

A time-and-materials contract is an agreement where payment is based on the time worked and materials used, rather than a fixed price. This model suits projects with evolving requirements or scope changes.

What are the available payment options for custom software development services?

Custom software development services offer various payment options to accommodate different client preferences. The most common payment options include fixed-price contracts, time and materials contracts, and milestone-based payments. Fixed-price contracts involve a predetermined price for the entire project, while time and materials contracts bill clients based on the actual time and resources utilized. Milestone-based payments break the project into several deliverables, and each milestone triggers a payment. Additionally, some software development companies may offer flexible payment schedules or provide financing options to help clients manage their budgets effectively.

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