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Cost And Fee Contract

Cost And Fee Contract Template for Belgium

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Key Requirements PROMPT example:

Cost And Fee Contract

"I need a Cost And Fee Contract for an IT consulting project where we'll be providing development services to a Belgian client, with a base fee of €150 per hour plus reimbursable travel expenses, starting March 1, 2025."

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Document background
The Cost And Fee Contract is essential for business relationships where services are provided on a cost-plus-fee basis under Belgian law. This contract type is particularly suited for professional service arrangements where the service provider incurs costs on behalf of the client and charges professional fees for their expertise and services. The document provides detailed provisions for cost tracking, approval procedures, fee calculations, and payment terms, all compliant with Belgian legal requirements. It is designed to offer clarity on cost categories, markup calculations, and fee structures while ensuring transparency in financial arrangements. The agreement is commonly used in consulting, professional services, and project-based engagements where regular cost reimbursement and fee payments are required.
Suggested Sections

1. Parties: Identification and details of the contracting parties, including registration numbers and addresses

2. Background: Context of the agreement and brief description of the parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement

4. Scope of Services: Detailed description of services to be provided under the contract

5. Fee Structure: Breakdown of fees, calculation methods, and payment terms

6. Cost Reimbursement: Categories of reimbursable costs and procedures for cost approval

7. Invoicing and Payment: Invoicing requirements, payment schedules, and VAT considerations

8. Obligations of the Service Provider: Key responsibilities and commitments of the service provider

9. Client Obligations: Key responsibilities and commitments of the client

10. Term and Termination: Duration of the agreement and termination provisions

11. Confidentiality: Provisions for handling confidential information

12. Liability and Indemnification: Allocation of risks and limitations of liability

13. Governing Law and Jurisdiction: Confirmation of Belgian law application and dispute resolution procedures

Optional Sections

1. Force Majeure: Include when specific events beyond parties' control need to be addressed

2. Intellectual Property Rights: Include when services involve creation or use of intellectual property

3. Data Protection: Include when personal data processing is involved in service delivery

4. Non-Competition: Include when protecting against competitive activities is necessary

5. Insurance: Include when specific insurance requirements need to be detailed

6. Assignment and Subcontracting: Include when transfer of rights or subcontracting needs to be regulated

7. Performance Metrics: Include when specific service levels need to be measured and monitored

Suggested Schedules

1. Schedule 1 - Fee Schedule: Detailed breakdown of fees, rates, and calculation methods

2. Schedule 2 - Reimbursable Costs: Comprehensive list of approved reimbursable expenses and limits

3. Schedule 3 - Service Specifications: Detailed technical or operational specifications of services

4. Schedule 4 - Key Personnel: List of key personnel and their roles (if applicable)

5. Schedule 5 - Reporting Requirements: Templates and requirements for regular reporting

6. Appendix A - Invoice Template: Standard format for invoices complying with Belgian requirements

7. Appendix B - Cost Approval Form: Template for submitting costs for approval

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Law
Approved Costs
Base Fee
Business Day
Client
Client Materials
Confidential Information
Cost Approval Form
Costs
Deliverables
Direct Costs
Effective Date
Fee
Force Majeure Event
Indirect Costs
Intellectual Property Rights
Invoice
Key Personnel
Markup
Milestone
Notice
Overhead Costs
Party/Parties
Payment Due Date
Project
Reimbursable Expenses
Reports
Schedule of Rates
Scope of Services
Service Provider
Services
Success Fee
Term
Third Party Costs
Time Sheet
VAT
Work Product
Clauses
Scope of Services
Fee Structure
Cost Reimbursement
Payment Terms
Invoicing
Performance Standards
Service Provider Obligations
Client Obligations
Representations and Warranties
Record Keeping
Reporting Requirements
Confidentiality
Intellectual Property
Data Protection
Liability and Indemnification
Insurance
Force Majeure
Term and Duration
Termination
Assignment and Subcontracting
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendments
Force Majeure
Non-Competition
Anti-Corruption
Compliance with Laws
Personnel
Quality Assurance
Cost Control
Audit Rights
Relevant Industries

Professional Services

Consulting

Engineering

Construction

IT Services

Management Advisory

Legal Services

Financial Services

Project Management

Architecture

Research and Development

Technical Services

Relevant Teams

Legal

Finance

Procurement

Commercial

Operations

Project Management

Business Development

Contract Administration

Risk Management

Compliance

Relevant Roles

Contract Manager

Commercial Director

Procurement Manager

Project Manager

Legal Counsel

Finance Director

Business Development Manager

Operations Manager

Chief Financial Officer

Professional Services Director

Commercial Manager

Cost Controller

Account Manager

Industries
Belgian Civil Code (Code civil/Burgerlijk Wetboek): Primary legislation governing contracts in Belgium, including formation, validity, and enforcement of contracts, as well as general obligations between parties
Belgian Economic Law Code (Code de droit économique/Wetboek van economisch recht): Regulates business practices, market practices, and provides framework for B2B and B2C relationships in commercial contracts
Belgian VAT Code (Code de la TVA/BTW-Wetboek): Governs VAT obligations and requirements for fee-based services and cost reimbursements in Belgian contracts
Law of 2 August 2002 on Combating Late Payment in Commercial Transactions: Specifies payment terms and late payment penalties in commercial contracts, particularly relevant for fee payments and cost reimbursements
Royal Decree of 26 January 2014 on Professional Fee Regulations: Provides framework for professional fee structures and billing requirements in Belgian professional service contracts
Belgian Accounting Law (LOI comptable/Boekhoudwet): Establishes requirements for invoicing, documentation of costs, and financial record-keeping in commercial relationships
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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