A contract that in which the price of items or services is set and not subject to adjustments unless it includes a clause that allows for a revision due to specific occurrences, such as shifts in economic conditions that affect the actual costs of contracted items or services. True fixed price contracts, without price adjustments, place the onus of establishing accurate pricing on the contracting firm.
Related information about fixed price contract:
- Fixed-price contract - Wikipedia, the free encyclopedia
A fixed-price contract is a contract where the amount of payment does not depend on the amount of resources or time expended, as opposed to a cost-plus ...
- Fixed price - Wikipedia, the free encyclopedia
1 Fixed price tender; 2 Fixed-price contract; 3 See also; 4 References ... A fixed- price contract is a contract where the contract payment does not depend on the ...
- What is fixed price contract? definition and meaning
Definition of fixed price contract: Contract that provides for a price which normally is not subject to any adjustment unless certain provisions (such as contract ...
- Subpart 16.2—Fixed-Price Contracts
A firm-fixed-price contract provides for a price that is not subject to any adjustment on the basis of the contractor's cost experience in performing the contract.
- Fixed-Price Contracts Payment for a fixed-price contract is based on ...
A fixed-price contract is not adjusted when it actually costs more or costs less to complete the project than the price initially agreed upon. One of the greatest ...
- Fixed Price Contract
Mar 14, 2010 ... A fixed-price contract obliges the supplier to deliver a defined work-product to a consumer at a predetermined price. Many such contracts ...
- Advantages & Disadvantages of a Fixed-Price Contract | Chron.com
A buyer and seller enter a fixed-price contract by agreeing on the final cost of a good or service, which is set by the contract both parties sign and agree to honor.
- Project Management Knowledge Firm-Fixed-Price Contract » Project ...
The term firm fixed price contract refers specifically to a type or variety of fixed price contract where the buyer or purchaser pays the seller or provider a fixed ...