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Code of Federal Regulations (Last Updated: April 5, 2024) |
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Title 48 - Federal Acquisition Regulations System |
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Chapter 1 - Federal Acquisition Regulation |
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SubChapter C - Contracting Methods and Contract Types |
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Part 16 - Types of Contracts |
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Subpart 16.2 - Fixed-Price Contracts |
§ 16.205-1 - Description.
Latest version.
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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, of the price for subsequent periods of performance.