Fixed Price Contracts: The Benefits of Performance Reimbursement Contracts in Procurement
Fixed price contract agreements (also called performance reimbursement contracts) are one of the major contract types in government procurement. According to Federal Acquisition Regulations (FAR), performance reimbursement contracts require an agency to pay the previously agreed upon compensation no matter what expenses the contractor incurred. So, a buyer pays a fixed, previously negotiated price, with Read more about Fixed Price Contracts: The Benefits of Performance Reimbursement Contracts in Procurement[…]