Fixed price contract definition

Fixed price contract definition

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Date added: 25.03.2015
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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

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A fixed-price contract obliges the supplier to deliver a defined work-product to a consumer at a predetermined price. Many such contracts include significant Definition of fixed price contract: A contract that in which the price of items or services is set and not subject to adjustments unless it includes a Definition of firm fixed price contract: Alternative term for fixed price contract.

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Jump to Fixed-price contract - Main article: Fixed-price contract Historically, when fixed-price contracts are used for new projects with untested Firm-fixed price contracts are those contracts that provide for a price which normally is not subject to any adjustment. However, prices are subjected to changes if provides for a price that is not subject to any adjustment on the basis of the contractor's cost experience in performing the contract. This type of contract places onA buyer and seller enter a fixed-price contract by agreeing on the final cost of a the buyer may no longer have the means to honor the contract, meaning the

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