What is the definition of Limitation of cost clause? | Dictionary.net

LIMITATION OF COST CLAUSE

\lˌɪmɪtˈe͡ɪʃən ɒv kˈɒst klˈɔːz], \lˌɪmɪtˈe‍ɪʃən ɒv kˈɒst klˈɔːz], \l_ˌɪ_m_ɪ_t_ˈeɪ_ʃ_ə_n ɒ_v k_ˈɒ_s_t k_l_ˈɔː_z]\

Definitions of LIMITATION OF COST CLAUSE

1910 - Black's Law Dictionary (2nd edition)

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Cost-reimbursement' type contract requirement for reporting significant overrun possible to the principal or customer by the project contractor or manager. If significantly lower cost is expected, the report may be issued.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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