[Code of Federal Regulations]

[Title 48, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR16.201]



[Page 305]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 16_TYPES OF CONTRACTS--Table of Contents

 

                   Subpart 16.2_Fixed-Price Contracts

 

Sec. 16.201  General.





    Fixed-price types of contracts provide for a firm price or, in 

appropriate cases, an adjustable price. Fixed-price contracts providing 

for an adjustable price may include a ceiling price, a target price 

(including target cost), or both. Unless otherwise specified in the 

contract, the ceiling price or target price is subject to adjustment 

only by operation of contract clauses providing for equitable adjustment 

or other revision of the contract price under stated circumstances. The 

contracting officer shall use firm-fixed-price or fixed-price with 

economic price adjustment contracts when acquiring commercial items.



[48 FR 42219, Sept. 19, 1983, as amended at 60 FR 48248, Sept. 18, 1995]