How Do You Charge For Consulting?

I have a global customer that we have been doing business with for around 10 years. We used to just bill the corporate HQ but now they are asking us to start billing local business units which is fine in the US but there are a lot of sites outside of the country. Our accounting department is hesitant about this due to taxes. We will be going towards a consultant and project manager for these projects. Doing the design, getting multiple quotes, pass the one or two we like to the customer and then being the project manager for the project.

For those of you that are consultants how do you bill? Percentage of project, flat fee, hourly rate estimate, or add up all your time at the end? Most of there sites are just office buildings so for PM they are fine with a "Not to exceed" price where our PM says what he thinks it will take and we add some time to it and bill for what is used.

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