Time and materials (T&M) is a pricing model used in project contracts, where the client pays for the actual time spent by the service provider or contractor and the cost of materials or resources used. T&M contracts are typically more flexible and accommodate changes in project scope.
In a T&M contract, a client may hire a marketing agency to run an advertising campaign, paying for the agency's hours worked and the cost of advertisements, marketing tools, and other resources used during the project.
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