As defined here (and taken as an example from another builder's contract), the "progress payments" clause is the key ingredient in a time and materials contract if the owner is going to have any control over the project. Progress Payments. Approximately every two weeks during the time that the Contractor is performing the work, the Contractor shall deliver to the Owner a statement which shows all the costs the Contractor has incurred to perform the work for the preceding two-week period together with the additional percentage of these costs (as stated on the attached Time and Materials Rates sheet) to cover the Contractor's overhead and profit. Within ten (10) days of the Owner's receipt of the statement, the Owner shall pay to the Contractor the total amount set forth in the statement. In contrast, our contract reads as follows: "The owner agrees that the owner or owner's invitees shall have no direct contact with any sub-contractors hired directly by the contractor. Any questions to the plans requested by the owner must be directed to the contractor not to any sub-contractor hired by the contractor. Sub-contractors hired by the contractor are hired at cost plus overhead and profit." "The contractor, sub-contractor, and suppliers costs are confidential and subject to overhead and profit." This is intentionally and specifically worded this way to keep the actual time and materials cost from the owners.