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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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51 sections with “firm-fixed-price contracts”: the first 40

  • FAR 16.202 Firm-fixed-price contracts.
  • 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 36.208 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 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 14.104 Types of contracts.
    Firm-fixed-price contracts shall be used when the method of contracting is sealed bidding, except that fixed-price contracts with economic price adjustment clauses may be used if authorized in accordance with 16.203 when some flexibility is…
  • FAR 16.207 Firm-fixed-price, level-of-effort term contracts.
  • 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 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 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 16.403 Fixed-price incentive contracts.
    …3-2 below. (b) Application. A fixed-price incentive contract is appropriate when— (1) A firm-fixed-price contract is not suitable; (2) The nature of the supplies or services being acquired and other circumstances of the acquisition are s…
  • DFARS 227.7202-1 Policy.
    …e documentation shall be obtained competitively, to the maximum extent practicable, using firm-fixed-price contracts or firm-fixed-priced orders under available pricing schedules. (c) Offerors and contractors shall not be required to— (1)…
  • FAR 1.602-2 Responsibilities.
    …ive (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. See 7.104(e). A COR— (1) Sh…
  • FAR 4.804-1 Closeout by the office administering the contract.
    …perty and final payment, unless otherwise specified by agency regulations. (2) Files for firm-fixed-price contracts, other than those using simplified acquisition procedures, should be closed within 6 months after the date on which the con…
  • FAR 15.407-1 Defective certified cost or pricing data.
    …ctive. (2) Under cost-reimbursement contracts and under all fixed-price contracts except firm-fixed-price contracts and fixed-price contracts with economic price adjustment, payments to subcontractors that are higher than they would be had…
  • 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 42.709-1 Scope.
    …acts in excess of $1 million, except fixed-price contracts without cost incentives or any firm-fixed-price contracts for the purchase of commercial products or commercial services.
  • 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…
  • DFARS 217.207 Exercise of options.
    …ement to perform cost or price analysis of spare parts prior to exercising any option for firm-fixed-price contracts containing spare parts; and (2) Working with the program office or requiring activity to verify in the Supplier Performanc…
  • DFARS 234.201 Policy.
    …w the procedures at PGI 234.201(1)(iii) for conducting a cost-benefit analysis. (iv) For firm-fixed-price contracts and subcontracts of any dollar value— (A) The application of earned value management is discouraged; and (B) Follow the p…
  • 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 15.408 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 31.204 Application of principles and procedures.
    …2) The requirements of paragraph (b)(1) of this section apply to any tier above the first firm-fixed-price subcontract or fixed-price subcontract with economic price adjustment provisions. (c) Costs incurred as payments under firm-fixed-pr…
  • FAR 52.226-1 Utilization of Indian Organizations and Indian-Owned Economic Enterprises.
    …et cost and ceiling price of a fixed-price incentive prime contract. (iv) The price of a firm-fixed-price prime contract. (3) The amount of the adjustment to the prime contract is 5 percent of the estimated cost, target cost, or firm-fixe…
  • FAR 52.248-1 Value Engineering.
    …h subparagraph (h)(5) above. For incentive contracts, shares shall be added as a separate firm-fixed-price line item on the instant contract. The Contractor shall maintain records adequate to identify the first delivered unit for 3 years af…
  • FAR 12.214 Cost Accounting Standards.
    …n of commercial products or commercial services when these contracts and subcontracts are firm-fixed-price or fixed-price with economic price adjustment (provided that the price adjustment is not based on actual costs incurred). See 30.201-…
  • FAR 14.201-1 Uniform contract format.
    …elsewhere in this regulation that are inconsistent with the uniform contract format. (5) Firm-fixed-price or fixed-price with economic price adjustment acquisitions that use the simplified contract format (see 14.201-9). (b) Information s…
  • FAR 15.305 Proposal evaluation.
    … Normally, competition establishes price reasonableness. Therefore, when contracting on a firm-fixed-price or fixed-price with economic price adjustment basis, comparison of the proposed prices will usually satisfy the requirement to perfor…
  • FAR 16.101 General.
    …d cost-reimbursement contracts (see subpart 16.3). The specific contract types range from firm-fixed-price, in which the contractor has full responsibility for the performance costs and resulting profit (or loss), to cost-plus-fixed-fee, in…
  • FAR 16.201 General.
    …ision of the contract price under stated circumstances. The contracting officer shall use firm-fixed-price or fixed-price with economic price adjustment contracts when acquiring commercial products and commercial services, except as provide…
  • FAR 16.301-3 Limitations.
    …er, adequate Government resources are available to award and manage a contract other than firm-fixed-priced (see 7.104(e)). This includes appropriate Government surveillance during performance in accordance with 1.602-2, to provide reasonab…
  • FAR 16.401 General.
    (a) Incentive contracts as described in this subpart are appropriate when a firm-fixed-price contract is not appropriate and the required supplies or services can be acquired at lower costs and, in certain instances, with improved delivery …
  • FAR 17.106-3 Special procedures applicable to DoD, NASA, and the Coast Guard.
    … be canceled or terminated. (d) Contracts awarded under the multiyear procedure shall be firm-fixed-price, fixed-price with economic price adjustment, or fixed-price incentive. (e) Recurring costs in cancellation ceiling. The inclusion of…
  • FAR 17.208 Solicitation provisions and contract clauses.
    …ption clause; (2) An option is not to be exercised at the time of contract award; (3) A firm-fixed-price contract, a fixed-price contract with economic price adjustment, or other type of contract approved under agency procedures is contem…
  • FAR 30.201-5 Waiver.
    …ount of the proposed award. (2) A description of the contract or subcontract type (e.g., firm-fixed-price, cost-reimbursement). (3) Whether the segment(s) that will perform the contract or subcontract has CAS-covered contracts or subcontr…
  • FAR 31.205-18 Independent research and development and bid and proposal costs.
    … the sales of that product. (2) When deferred costs are recognized, the contract (except firm-fixed-price and fixed-price with economic price adjustment) will include a specific provision setting forth the amount of deferred IR&D costs tha…
  • FAR 42.709-7 Contract clause.
    …and contracts over $1 million except fixed-price contracts without cost incentives or any firm-fixed-price contract for the purchase of commercial products or commercial services. Generally, covered contracts are those which contain one of …
  • FAR 42.1503 Procedures.
    …g: (i) Technical (quality of product or service). (ii) Cost control (not applicable for firm-fixed-price or fixed-price with economic price adjustment arrangements). (iii) Schedule/timeliness. (iv) Management or business relations. (v)…
  • FAR 44.204 Contract clauses.
    …ontract amount is expected to exceed the simplified acquisition threshold, unless— (1) A firm-fixed-price contract, awarded on the basis of adequate price competition or whose prices are set by law or regulation, is contemplated; or (2) A…

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.