Firm Fixed Price Contract definition

Firm Fixed Price Contract means a contract which has a fixed total price or fixed unit price.

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Firm Fixed Price Contract means a contract which provides for a price that is not subject to any subsequent adjustment as a result of the contractor’s cost experience in performing the contract. This type of contract places upon the contractor maximum risk and full responsibility for all costs and resulting profit or loss.

Firm Fixed Price Contract means a price that is fixed at the inception of a contract and is guaranteed for a specific period of time. A fixed-price contract may also contain an economic cost adjustment provision tied to a standard index. A firm, fixed-price contract is required between any FSMC and SFA in North Carolina. Under the firm, fixed-price contract, FSMC is required to perform the work described in the RFP/Contract for a firm, fixed-price to be negotiated prior to contract execution between the FSMC and the SFA. The firm, fixed-price will include all costs associated with fulfilling the contract’s Terms and Conditions. No additional costs will be allowed in conjunction with the contract with the exception of personnel costs as SFA personnel transition to FSMC personnel. The fixed-price is not subject to any adjustment on the basis of

Examples of Firm Fixed Price Contract in a sentence

The CONTRACTOR shall receive from the COMMISSION total compensation of This Contract is a Firm Fixed Price Contract.
County agrees to compensate the Contractor the Annual Firm Fixed Price Contract as set forth below.
This is a Firm Fixed Price Contract for Services at Bel Air (Haramous).
This is a Firm Fixed Price Contract with payments based on fixed unit rates as outlined in the Pricing Schedule of this Contract.
FOB: Destination PSC CD: 4935 NET AMT SPECIFICATIONS EVALUATION FACTORS It is the Government’s intent to award one Firm Fixed Price Contract under this solicitation to the lowest price proposal determined to be technically acceptable in accordance with the Statement of Work and all associated drawings, pictures, and attachments.
Firm Fixed Price Contract by and between Los Angeles County Metropolitan Transportation Authority and Polaroid ID Systems dated as of February 26, 2007 (the “LA Metropolitan Transportation Authority Agreement”).

More Definitions of Firm Fixed Price Contract

Firm Fixed Price Contract means a firm-fixed price contract that provides for a price that is not subject to any adjustment on the basis of a contractor’s cost experience in preforming the contract. However, prices are subjected to changes if they are explicitly included in the agreement.

Firm Fixed Price Contract means a contract under which a contractor agrees to

Firm Fixed Price Contract means a type of fixed-price contract that gives a contractor full responsibility for costs and resulting profit or loss. For example, as described in 48 C.F.R. § 16.202 (2019) of the Federal Acquisition Regulation, “a firm-fixed-price contract provides for a price that is not subject to any adjustment on the basis of the contractor’s (vendor’s) cost experience in performing the contract. This contract type places upon the contractor maximum risk and full responsibility for all costs and resulting profit or loss. It provides maximum incentive for the contractor to control costs and perform effectively and imposes a minimum administrative burden upon the contracting parties.” As described in this Publication, the method of procurement by sealed bids (formal advertising), requires use of a firm-fixed-price contract.

Firm Fixed Price Contract means a fixed price contract that provides a price that is not subject to adjustment because of variations in the contractor's cost.

Firm Fixed Price Contract. The contract is a Firm Fixed-Price Contract. The Contractor(s) is required to provide to the using agency supplies or services at the listed price(s) for the duration of the contract, and any extensions thereto.

Firm Fixed Price Contract means any contract which provides for a price which is not subject to and which does not authorize any subsequent adjustment as a result of the contractor’s cost-experience in performing the contract. This type of contract places, and shall be construed as such, upon the contractor the maximum risk for loss and the contractor shall bear full responsibility for all costs, foreseen or unforeseen, or any resulting profit or loss as a result of the performance of the contract.