What is prepared to request reimbursement of costs for cost or labor hour type contracts?

In the context of cost or labor hour type contracts, vouchers are typically used to request reimbursement of incurred costs. A voucher serves as a formal request for payment and is essential for ensuring that all expenses are documented and verified before reimbursement. This process often includes itemization of costs, supporting documentation, and adherence to contract stipulations.

Using vouchers helps maintain accountability and traceability of expenditures associated with a contract, which is critical in cost-reimbursable scenarios. It ensures that contractors are compensated for actual costs incurred in accordance with the terms of the contract and that all costs are scrutinized before payment is made.

Understanding this process is important for managing budgets and ensuring compliance with financial regulations and contractual obligations, especially in government or large enterprise contracts where cost control is crucial.