Firm Fixed Price
A contract type where the price is set upfront and does not change regardless of actual costs. Lowest risk for government.
(Firm Fixed Price) is a contract type concept federal contractors and grant writers run into across solicitations, regulations, and award filings
FFP describes a specific contract structure that the federal government uses. The contract type controls risk allocation, payment timing, reporting cadence, and how performance is measured — all of which affect whether the work is profitable and whether it fits a contractor's capability profile. Knowing whether a solicitation is structured as a FFP versus another vehicle is one of the first signals of how the government expects the work to be executed and what kind of contractor they're trying to attract. Misreading the contract type can mean either over-pricing risk you don't actually carry or under-pricing risk you do. The related terms above name the adjacent vehicles FFP most commonly competes with or rolls up under.
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