Contingency fund: Budgeting technique involving setting aside money to cover the cost of potential future unknown expenses.
A cost-plus-fixed-fee contract may take one of two basic forms-completion or term. A cost-sharing contract is a cost-reimbursement contract where the contractor receives no fee and is reimbursed only for an agreed-upon part of its allowable costs. The contract price is the simplified acquisition threshold or less, unless approved by the principle of the contracting…