Fixed Price Task Orders Clause Samples
The Fixed Price Task Orders clause establishes that specific tasks or projects under a contract will be performed for a predetermined, set price. In practice, this means that once a task order is issued, the contractor is obligated to complete the work for the agreed-upon amount, regardless of the actual costs incurred. This approach provides cost certainty for the client and incentivizes the contractor to manage resources efficiently, ultimately allocating the risk of cost overruns to the contractor and ensuring budget predictability for the project owner.
Fixed Price Task Orders. Fixed price is defined under Federal Acquisition Regulation (FAR) Subpart 16.2, Fixed-Price Contracts, and other applicable agency-specific regulatory supplements.
Fixed Price Task Orders. Fixed-Price contracts are defined under FAR Subpart 16.2 and other applicable agency-specific regulatory supplements.
Fixed Price Task Orders. The University shall be obligated only to pay the Fixed Price for labor stated in task orders priced on a fixed-price basis. The Subcontractor shall be obligated to complete all work called for in such task orders. The subcontractor shall be reimbursed for direct labor expended in performance of fixed-price task orders issued pursuant to this Agreement at the billing rates used in pricing each respective task order. Reimbursable costs shall be reimbursed at actual cost.
Fixed Price Task Orders. (a) The University shall pay the Subcontract, upon submission of proper invoices or vouchers, the price stipulated in each fixed-price task order for work delivered or rendered, less any deductions provided in this Agreement. Unless otherwise specified, payments shall be made upon acceptance by the University of any portion of the work delivered or rendered for which a price is separately stated in a task order.
(b) The University will withhold from payment 20% of the amount – of each invoice or voucher up to a maximum of amount of $50,000 for each task order.
(c) Except as stated in (4) below, upon completion of the requirements, including all deliverables, of each task order and submission of all documentation, certifications, and approvals required of the Subcontractor by the provisions of this Agreement, and acceptance of the work by the University, the University will pay the amount withheld on a task order.
Fixed Price Task Orders. Performance based task orders may be issued as fixed price. In those instances, in addition to the clauses previously incorporated herein, firm fixed price task orders will be subject to the following Federal Acquisition Regulation (FAR) clauses which are incorporated into the contract by reference. 52.229-3 JAN 1991 FEDERAL STATE AND LOCAL TAXES 52.232-1 APR 1984 PAYMENTS 52.232-15 APR 1984 PROGRESS PAYMENTS NOT INCLUDED 52.232-32 FEB 2002 PERFORMANCE BASED PAYMENTS (Only applicable to firm fixed price performance based task orders) 52.237-3 JAN 1991 CONTINUITY OF SERVICES 52.242-15 AUG 1989 STOP WORK ORDER 52.242-17 APR 1984 GOVERNMENT DELAY OF WORK 52.243-1 APR 1984 CHANGES- FIXED PRICE ALTERNATE I 52.244-5 DEC 1996 COMPETITION IN SUBCONTRACTING 52.245-2 APR 1984 GOVERNMENT PROPERTY (FIXED PRICE CONTRACTS) Alternate I 52.246-4 AUG 1996 INSPECTION OF SERVICES (FIXED PRICE) 52.249-2 SEP 1996 TERMINATION FOR CONVENIENCE (FIXED PRICE) 52.249-8 APR 1984 DEFAULT (FIXED PRICE SUPPLY AND SERVICES)