Fixed-Price Contracts

The Fixed-Price contract type is illustrated by a dazzling government procurement instructor. (Wearing a fairly unattractive "killers" t-shirt...).

Category:

Education

Tags:

• government
• procurement
• contracts
• fixed
• price
• contract
• types
• contracting

[td84]

Thanks for uploading these videos. I've just found your videos. I plan on applying for some government contracts after I build up my business, and quit working in the Federal Government (conflict of interest).

I have a question regarding this topic. Is there a difference between, fixed-price, and firm fixed-price? I see the government contracts uses the term "firm fixed-price" more often.

Thanks!!!

[TresPeche]

@td84 Yes there is a minor difference. Or major- depending on perspective. Fixed priced contracts are a family of contracts which include a few sub-types- such as Firm Fixed Price (FFP), Fixed-Price-Incentive-Fee (FPIF); Fixed-Price-Award-Fee (FPAF); Fixed-Price-Level-of-effort (FP LOE); Fixed-Price with an Economic Price Adjustment (FP EPA). Some people use the terms interchangeably but the difference is that firm-fixed-price is a single type where fixed-price is a family of types. (See FAR 16)

[td84]

@TresPeche I'll try to decode your response when I look up FAR 16 again after I get more rest. Keep new videos coming if you can, and thanks for answering my question!!!

[cebuu]

Thanks, I know the price & qty goes on the PO which correspondes to the contract, but how & where do I insert the price & qty on the contract.