fixed-price

[US]/[fɪkst prʌɪs]/
[UK]/[fɪkst praɪs]/
Frequency: Very High

Translation

n.A price that is agreed upon in advance and does not change.; A type of contract where the price is fixed and the contractor bears the risk of cost overruns.
adj.Relating to a price that is fixed and does not change.

Phrases & Collocations

fixed-price contract

fixed-price bid

fixed-price project

fixed-price agreement

fixed-price basis

fixed-price offer

fixed-price deal

fixed-price tender

fixed-price scheme

Example Sentences

we agreed on a fixed-price contract for the website redesign.

the fixed-price bid was significantly lower than the cost-plus estimate.

a fixed-price contract provides budget certainty for the client.

the project was completed within the fixed-price budget.

we prefer a fixed-price arrangement for this type of project.

the fixed-price contract included a detailed scope of work.

changes to the scope would require a change order under the fixed-price agreement.

the fixed-price model incentivizes efficient project management.

we submitted a competitive fixed-price proposal to the city.

the client chose a fixed-price contract over time and materials.

the fixed-price contract protected us from cost overruns.

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