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48 CFR · Federal Acquisition Regulation and Defense supplement

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The codified text (eCFR, as of 2026-10-02). Under the Revolutionary FAR Overhaul ↗, agencies follow class deviations with new text for many parts while the formal rules go through the Federal Register: check the solicitation and your contract's clauses, which rule.

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99 sections with “firm fixed price”: the first 40

  • FAR 16.403-1 Fixed-price incentive (firm target) contracts.
    (a) Description. A fixed-price incentive (firm target) contract specifies a target cost, a target profit, a price ceiling (but not a profit ceiling or floor), and a profit adjustment formula. These elements are all negotiated at the outset.…
  • FAR 16.403-2 Fixed-price incentive (successive targets) contracts.
    …arget profit. (iii) An initial profit adjustment formula to be used for establishing the firm target profit, including a ceiling and floor for the firm target profit. (This formula normally provides for a lesser degree of contractor cost r…
  • DFARS 216.403-1 Fixed-price incentive (firm target) contracts.
    …tracting officer shall give particular consideration to the use of fixed-price incentive (firm target) contracts, especially for acquisitions moving from development to production. (2) The contracting officer shall pay particular attention…
  • FAR 36.208 Concurrent performance of firm-fixed-price and other types of construction contracts.
    …cost adjustment features shall not be permitted concurrently, at the same work site, with firm-fixed-price, lump sum, or unit price contracts except with the prior approval of the head of the contracting activity.
  • FAR 52.216-17 Incentive Price Revision—Successive Targets.
    …n (FAR) in effect on the date of this contract. (c) Submitting data for establishing the firm fixed price or a final profit adjustment formula. (1) Within __ [Contracting Officer insert number of days] days after the end of the month in wh…
  • FAR 16.202 Firm-fixed-price contracts.
  • FAR 16.207 Firm-fixed-price, level-of-effort term contracts.
  • FAR 16.403 Fixed-price incentive contracts.
    …rice ceiling, negotiated at the outset. The two forms of fixed-price incentive contracts, firm target and successive targets, are further described in 16.403-1 and 16.403-2 below. (b) Application. A fixed-price incentive contract is approp…
  • FAR 36.207 Pricing fixed-price construction contracts.
    (a) Generally, firm-fixed-price contracts shall be used to acquire construction. They may be priced (1) on a lump-sum basis (when a lump sum is paid for the total work or defined parts of the work), (2) on a unit-price basis (when a unit pr…
  • FAR 49.603-1 Fixed-price contracts—complete termination.
    …ormed, or items delivered, under the completed portion of the contract. The Government confirms the right of the Contractor, subject to paragraph (7) below, to retain this sum and agrees that it constitutes a portion of the total amount to …
  • FAR 7.105 Contents of written acquisition plans.
    … type selection. Discuss the rationale for the selection of contract type. For other than firm-fixed-price contracts, see 16.103(d) for additional documentation guidance. Acquisition personnel shall document the acquisition plan with findin…
  • FAR 12.207 Contract type.
    (a) Except as provided in paragraph (b) of this section, agencies shall use firm-fixed-price contracts or fixed-price contracts with economic price adjustment for the acquisition of commercial products or commercial services. (b)(1) A time…
  • FAR 16.103 Negotiating contract type.
    …e contractor with the greatest incentive for efficient and economical performance. (b) A firm-fixed-price contract, which best utilizes the basic profit motive of business enterprise, shall be used when the risk involved is minimal or can …
  • FAR 36.609-1 Design within funding limitations.
    …ation exceeds the construction funding limitation in the architect-engineer contract, the firm shall be solely responsible for redesigning the project within the funding limitation. These additional services shall be performed at no increas…
  • DFARS 252.232-7005 Reimbursement of Subcontractor Advance Payments—DoD Mentor-Protégé Program.
    …ill reimburse the Contractor for any advance payments made by the Contractor, as a mentor firm, to a protégé firm, pursuant to an approved mentor-protégé agreement, provided— (1) The Contractor's subcontract with the protégé firm includes …
  • FAR 7.103 Agency-head responsibilities.
    … costly, including for cost-reimbursement and other high-risk contracts (e.g., other than firm-fixed-price contracts) requiring a written acquisition plan. A written plan shall be prepared for cost reimbursement and other high-risk contract…
  • FAR 8.405-3 Blanket purchase agreements (BPAs).
    …that only a single source can reasonably perform the work; (B) The BPA provides only for firm-fixed priced orders for— (1) Products with unit prices established in the BPA; or (2) Services with prices established in the BPA for specific …
  • FAR 16.202-2 Application.
    A firm-fixed-price contract is suitable for acquiring commercial products or commercial services (see parts 2 and 12) or for acquiring other supplies or services on the basis of reasonably definite functional or detailed specifications (see…
  • FAR 16.205-2 Application.
    …antity production or services for which it is possible to negotiate a fair and reasonable firm fixed price for an initial period, but not for subsequent periods of contract performance. (a) The initial period should be the longest period f…
  • FAR 32.501-3 Contract price.
    …g the limitation on progress payments, the contract price shall be as follows: (1) Under firm-fixed price contracts, the contract price is the current amount fixed by the contract plus the not-to-exceed amount for any unpriced modification…
  • FAR 52.203-10 Price or Fee Adjustment for Illegal or Improper Activity.
    …f contract award and such reduced price shall be the total final contract price. (5) For firm-fixed-price contracts, by 10 percent of the initial contract price or a profit amount determined by the Contracting Officer from records or docum…
  • FAR 52.216-5 Price Redetermination—Prospective.
    …imitation on payments statement. This paragraph (h) applies only during periods for which firm prices have not been established. (1) Within 45 days after the end of the quarter of the Contractor's fiscal year in which a delivery is first m…
  • FAR 8.405-2 Ordering procedures for services requiring a statement of work.
    …easons at 8.405-6(a). (iii) The ordering activity shall specify the type of order (i.e., firm-fixed-price, labor-hour) for the services identified in the statement of work. The contracting officer should establish firm-fixed-prices, as app…
  • FAR 15.404-4 Profit.
    …reater cost risks. (B) The contractor assumes the greatest cost risk in a closely priced firm-fixed-price contract under which it agrees to perform a complex undertaking on time and at a predetermined price. Some firm-fixed-price contracts…
  • FAR 15.407-1 Defective certified cost or pricing data.
    …ricing data in issue were defective even though the contractor or subcontractor took no affirmative action to bring the character of the data to the attention of the contracting officer; (iii) The contract was based on an agreement about t…
  • FAR 16.104 Factors in selecting contract types.
    …act should be considered. (e) Combining contract types. If the entire contract cannot be firm-fixed-price, the contracting officer shall consider whether or not a portion of the contract can be established on a firm-fixed-price basis. (f)…
  • FAR 16.202-1 Description.
    A firm-fixed-price contract provides for a price that is not subject to any adjustment on the basis of the contractor's cost experience in performing the contract. This contract type places upon the contractor maximum risk and full responsi…
  • FAR 16.205-1 Description.
    A fixed-price contract with prospective price redetermination provides for (a) a firm fixed price for an initial period of contract deliveries or performance and (b) prospective redetermination, at a stated time or times during performance,…
  • FAR 16.206-2 Application.
    …isition threshold or less when it is established at the outset that a fair and reasonable firm fixed price cannot be negotiated and that the amount involved and short performance period make the use of any other fixed-price contract type im…
  • FAR 36.702 Forms for use in contracting for architect-engineer services.
    …ying areas. (b) The SF 330, Architect-Engineer Qualifications, shall be used to evaluate firms before awarding a contract for architect-engineer services: (1) Use the SF 330, Part I—Contract-Specific Qualifications, to obtain information …
  • FAR 42.302 Contract administration functions.
    …nd compliance with these plans and requirements; and provide advice and assistance to the firms involved, as appropriate. (56) Maintain surveillance of flight operations. (57) Assign and perform supporting contract administration. (58) E…
  • FAR 52.216-25 Contract Definitization.
    …esulting from this letter contract will include a negotiated ___ [insert price ceiling or firm fixed price] in no event to exceed ___ [insert the proposed price upon which the award was based].
  • FAR 52.248-1 Value Engineering.
    … contract with prospective price redetermination, the term refers to the period for which firm prices have been established. Instant unit cost reduction means the amount of the decrease in unit cost of performance (without deducting any Co…
  • FAR 1.602-2 Responsibilities.
    …ting officer's representative (COR) on all contracts and orders other than those that are firm-fixed price, and for firm-fixed-price contracts and orders as appropriate, unless the contracting officer retains and executes the COR duties. Se…
  • FAR 2.101 Definitions.
    …uipment designed to be controlled by the central processing unit of a computer, software, firmware and similar procedures, services (including support services), and related resources. (3) The term “information technology” does not include…
  • FAR 15.407-2 Make-or-buy programs.
    …vailable—quality, quantity, delivery, and other essential factors considered—from another firm at equal or lower prices, or when they are regularly manufactured or provided by the contractor, but are available—quality, quantity, delivery, a…
  • FAR 15.408 Solicitation provisions and contract clauses.
    …nd (2) The contemplated contract type is expected to be any contract type except— (i) A firm-fixed-price contract awarded on the basis of adequate price competition; (ii) A fixed-price contract with economic price adjustment awarded on t…
  • FAR 16.102 Policies.
    (a) Contracts resulting from sealed bidding shall be firm-fixed-price contracts or fixed-price contracts with economic price adjustment. (b) Contracts negotiated under part 15 may be of any type or combination of types that will promote th…
  • FAR 16.201 General.
    (a) 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.…
  • FAR 16.406 Contract clauses.
    (a) Insert the clause at 52.216-16, Incentive Price Revision—Firm Target, in solicitations and contracts when a fixed-price incentive (firm target) contract is contemplated. If the contract calls for supplies or services to be ordered under…

FAR (chapter 1)

DFARS (chapter 2, Defense)

Source: eCFR, 48 CFR chapters 1 and 2 (GPO GovInfo bulk data) ↗. Rule changes in progress: FAR, DFARS. Terms: glossary.