open-book contract

noun

A contract in which the buyer and seller of work or services agree on (i) which costs are remunerable and (ii) the margin that the supplier can add to these costs. The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin.

Ask AI about this wordChatGPTClaudePerplexityGoogle AIGrok

Meanings

nounopen-book contract (plural open-book contracts)

plural open-book contracts

  1. A contract in which the buyer and seller of work or services agree on (i) which costs are remunerable and (ii) the margin that the supplier can add to these costs. The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin.
Cite this entry
APA

open-book contract. (n.d.). In WatkinsX Dictionary. Retrieved November 4, 2026, from https://dictionary.watkinsx.com/word/open-book%20contract

MLA

“open-book contract.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/open-book%20contract. Accessed November 4, 2026.

Chicago

WatkinsX Dictionary, s.v. “open-book contract,” accessed November 4, 2026, https://dictionary.watkinsx.com/word/open-book%20contract.

Source: open-book contract on Wiktionary, CC BY-SA 4.0.