This book provides an overview of the various contract types used in federal procurement and the legal requirements and issues pertaining to each. Current congressional and public interest in contract types is, in part, an outgrowth of the reported increase in the use of cost-reimbursement contracts during the George W. Bush Administration and the Obama Administration's proposal to reduce by at least 10% the funds obligated in FY2010 by "high risk-contracting authorities", such as cost-reimbursement, time-and-materials and labor-hour contracts.