[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: 48CFR16.207-2]



[Page 309]

 

            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. 16.207-2  Application.



    A firm-fixed-price, level-of-effort term contract is suitable for 

investigation or study in a specific research and development area. The 

product of the contract is usually a report showing the results achieved 

through application of the required level of effort. However, payment is 

based on the effort expended rather than on the results achieved.