Contract Type
Firm Fixed Price
Definition
Firm Fixed Price (FFP) is the most common and preferred contract type (FAR 16.202). The price is set at award and is not subject to adjustment regardless of the contractor's actual costs. Contractor bears full cost risk and retains all savings. Best used when requirements are well-defined and costs are predictable. Government preference: FFP > FPI > CPIF > CPFF > T&M.
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