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Code of Federal Regulations (Last Updated: November 8, 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 |
§ 16.207-1 - Description.
Latest version.
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16.207-1 Description.
A firm-fixed-price, level-of-effort term contract requires (a) the contractor to provide a specified level of effort, over a stated period of time, on work that can be stated only in general terms and (b) the Government to pay the contractor a fixed dollar amount.