How is Billability defined in a legal contract?
- Billability means the fraction of the total hours worked by a business's labor force that is billable to its customers. For the Borrowers, it is calculated as a percentage where the numerator equals the aggregate of direct labor charges for customer projects for any given period, and the denominator equals the total available labor, excluding leave time, for the same period. Seen in 1 SEC filing.
- Billability means at any time, the quotient expressed as a percentage. Seen in 1 SEC filing.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of billability' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Billability means the fraction of total working hours billable to customers, considering direct labour charges and total available labour excluding leave time.
Relevant Contract Types
Relevant Circumstances
- When a contract is to be developed for services rendered on an hour basis.
- When a client hires a contractor for a specific project and needs to determine billable hours.
Relevant Sectors
Genie Definition 2
Billability means the quotient of billable work measured as a percentage, at any given time.
Relevant Contract Types
Relevant Circumstances
- When a freelancer is hired and the billability of the work they perform needs to be defined.
- When an organization outsources tasks and needs to track billable hours.
Relevant Sectors
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Billability means the fraction of total working hours billable to customers, considering direct labour charges and total available labour excluding leave time.
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