A labor quote template can be used for both fixed-price and time-and-materials contracts. However, it is essential to differentiate between the two types of contracts in the template and provide a clear breakdown of costs and services for each. For a fixed-price contract, the template should include a set price for the project or service. In contrast, for a time-and-materials contract, the template should include an hourly rate and an estimated number of hours needed to complete the project or service. The labor quote template should also clearly state any additional costs or fees associated with the project or service.