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		The following are the various billing models followed by Penguin Commercials. Time and Materials The standard time-and-materials method of work, based on Accruals. This is usually monitored through weekly timesheets and progress reports. Time and Materials with Not-to-Exceed clause A standard time-and-materials method, with an additional clause that price will not exceed a certain amount. Fixed-price Project Project bids, on fixed-price fixed-time basis. Bids may be fixed on hard set of specifications, or accommodate certain level of flexibility. Milestone-based payment schedule In a remote development project, milestones-based payment schedules reinforce progress monitoring, and the evolution of firm, achievable milestones. Milestone-based payment helps you justify payment, and visible progress reduces risks. Monthly Resources-Based Payment Schedule Ideal for the Extended Development Center model, billing is done monthly based on the number and level of resources utilized.