Code of Federal Regulations (Last Updated: November 8, 2024) |
Title 48 - Federal Acquisition Regulations System |
Chapter 1 - Federal Acquisition Regulation |
SubChapter C - Contracting Methods and Contract Types |
Part 16 - Types of Contracts |
Subpart 16.2 - Fixed-Price Contracts |
§ 16.207-2 - Application.
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16.207-2 Application.
A firm-fixed-price, level-of-effort term contract is suitable for investigation or study in a specific research and development area. The product of the contract is usually a report showing the results achieved through application of the required level of effort. However, payment is based on the effort expended rather than on the results achieved.