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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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158 sections with “firm 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 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…
  • 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 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…
  • 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 52.216-16 Incentive Price Revision—Firm Target.
    As prescribed in 16.406(a), insert the following clause: Incentive Price Revision—Firm Target (JAN 2022) (a) General. The supplies or services identified in the Schedule as Items ___ [Contracting Officer insert Schedule line item numbers]…
  • FAR 13.302-2 Unpriced purchase orders.
    …hase order. The monetary limitation shall be an obligation subject to adjustment when the firm price is established. The contracting office shall follow up on each order to ensure timely pricing. The contracting officer or the contracting o…
  • FAR 16.202 Firm-fixed-price contracts.
  • FAR 16.207 Firm-fixed-price, level-of-effort term contracts.
  • 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 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 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 23.107-1 Products containing recovered materials.
    …mount paid will exceed $10,000; or (ii) The agency intends to establish or continue an affirmative procurement program as described in paragraph (d) of this section in the following fiscal year. (d) Agency affirmative procurement program.…
  • FAR 23.107-2 Biobased products.
    …mount paid will exceed $10,000; or (ii) The agency intends to establish or continue an affirmative procurement program in the following fiscal year. (d) Agency affirmative procurement program. An agency shall establish an affirmative proc…
  • 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 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…
  • 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…
  • DFARS 219.7102 General.
    The Program includes— (a) Mentor firms and protégé firms that meet the criteria in appendix I, section I-102; (b) Mentor-protégé agreements that establish a developmental assistance program for a protégé firm; (c) A preliminary assessmen…
  • DFARS 237.270 Acquisition of audit services.
    …r subsequent material changes to the statement of work. (d) Transparency requirement for firms used to support DoD audits. (1) This paragraph (d) implements the requirements of section 1006 of the National Defense Authorization Act for Fi…
  • 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 4.1005-2 Exceptions.
    …e-and-materials, or labor-hour basis. (4) The procurement instrument is for services and firm prices have been established for elements of the total price, but the actual number of the elements is not known until performance (e.g., a labor…
  • 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 16.201 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 19.306 Protesting a firm's status as a HUBZone small business concern.
    …ormance can be suspended until an (AA/GC&BD) decision is rendered. (5) If the AA/GC&BD affirms the decision of the HUBZone Program Director, finding the protested concern is ineligible, and contract award has occurred— (i) The contracting…
  • 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 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 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 52.214-27 Price Reduction for Defective Certified Cost or Pricing Data—Modifications—Sealed Bidding.
    …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 52.215-10 Price Reduction for 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 52.215-11 Price Reduction for Defective Certified Cost or Pricing Data—Modifications.
    …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…
  • DFARS 204.7103-1 Criteria for establishing.
    …hen the contract is for maintenance and repair services (e.g., a labor hour contract) and firm prices have been established for elements of the total price of an item but the actual number and quantity of the elements are not known until pe…
  • FAR 3.103-2 Evaluating the certification.
    …ate of Independent Price Determination (hereafter, the certificate): (i) The fact that a firm has published price lists, rates, or tariffs covering items being acquired by the Government. (ii) The fact that a firm has informed prospective…
  • FAR 3.303 Reporting suspected antitrust violations.
    …that markets operate competitively. Any agreement or mutual understanding among competing firms that restrains the natural operation of market forces is suspect. Paragraph (c) of this section identifies behavior patterns that are often asso…
  • 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 9.505-2 Preparing specifications or work statements.
    …sm in the award of production contracts. (3) In development work, it is normal to select firms that have done the most advanced work in the field. These firms can be expected to design and develop around their own prior knowledge. Developm…
  • FAR 14.405 Minor informalities or irregularities in bids.
    …e bidder, with the bid, referring to and clearly identifying the bid itself); or (2) The firm submitting a bid has formally adopted or authorized, before the date set for opening of bids, the execution of documents by typewritten, printed,…
  • 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 (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.