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Meaning of "fixed-price contract" in the English dictionary

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DICTIONARY
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PRONUNCIATION OF FIXED-PRICE CONTRACT

fixed-price contract  [ˈfɪkstˌpraɪs ˈkɒnˌtrækt] play
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GRAMMATICAL CATEGORY OF FIXED-PRICE CONTRACT

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Fixed-Price contract is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES FIXED-PRICE CONTRACT MEAN IN ENGLISH?

Fixed-price contract

A fixed-price contract is a contract where the amount of payment does not depend on the amount of resources or time expended, as opposed to a cost-plus contract which is intended to cover the costs plus some amount of profit. Such a scheme is often used in military and government contractors to put the risk on the side of the vendor, and control costs. However, historically when such contracts are used for innovative new projects with untested or undeveloped technologies, such as new military transports or stealth attack planes, it can and often results in a failure if costs greatly exceed the ability of the contractor to absorb unforeseen cost overruns. Fixed prices can require more time, in advance, for sellers to determine the price of each item. However, the fixed-price items can each be purchased faster, but bargaining could set the price for an entire set of items being purchased, reducing the time for such bulk purchases treated as a whole batch. Also, fixed-price items can help in pre-determining the value of the entire inventory, such as for insurance estimates.

Definition of fixed-price contract in the English dictionary

The definition of fixed-price contract in the dictionary is a contract in which the price is preset and invariable, regardless of the actual costs of production.

WORDS THAT RHYME WITH FIXED-PRICE CONTRACT


abstract
ˈæbstrækt
attract
əˈtrækt
bract
brækt
cataract
ˈkætəˌrækt
contract
kənˈtrækt
cracked
krækt
detract
dɪˈtrækt
diffract
dɪˈfrækt
distract
dɪˈstrækt
entr´acte
ɒnˈtrækt
extract
ɪkˈstrækt
half-tracked
ˈhɑːfˌtrækt
protract
prəˈtrækt
retract
rɪˈtrækt
subcontract
sʌbˈkɒntrækt
subtract
səbˈtrækt
tesseract
ˈtesəˌrækt
tracked
trækt
tract
trækt
untracked
ʌnˈtrækt

WORDS THAT BEGIN LIKE FIXED-PRICE CONTRACT

fixed disk
fixed exchange rate
fixed idea
fixed link
fixed menu
fixed oil
fixed penalty (fine)
fixed point
fixed satellite
fixed star
fixed system
fixed-point notation
fixed-point representation
fixed-price
fixed-rate financing
fixed-term contract
fixed-term tenancy
fixed-wing aircraft
fixedly
fixedness

WORDS THAT END LIKE FIXED-PRICE CONTRACT

alimentary tract
almond extract
breach of contract
digestive tract
fixed cost contract
fixed-term contract
forward contract
in the abstract
interact
liver extract
maintenance contract
malt extract
meat extract
pituitary extract
quasi-contract
respiratory tract
service contract
social contract
urinary tract
urogenital tract
yeast extract

Synonyms and antonyms of fixed-price contract in the English dictionary of synonyms

SYNONYMS

Translation of «fixed-price contract» into 25 languages

TRANSLATOR
online translator

TRANSLATION OF FIXED-PRICE CONTRACT

Find out the translation of fixed-price contract to 25 languages with our English multilingual translator.
The translations of fixed-price contract from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «fixed-price contract» in English.

Translator English - Chinese

固定价格合同
1,325 millions of speakers

Translator English - Spanish

contrato de precio fijo
570 millions of speakers

English

fixed-price contract
510 millions of speakers

Translator English - Hindi

निर्धारित मूल्य अनुबंध
380 millions of speakers
ar

Translator English - Arabic

عقد ل سعر ثابت
280 millions of speakers

Translator English - Russian

Контракт с фиксированной ценой
278 millions of speakers

Translator English - Portuguese

contrato de preço fixo
270 millions of speakers

Translator English - Bengali

নির্দিষ্ট দাম চুক্তি
260 millions of speakers

Translator English - French

contrat à prix fixe
220 millions of speakers

Translator English - Malay

Kontrak harga tetap
190 millions of speakers

Translator English - German

Festpreis-Vertrag
180 millions of speakers

Translator English - Japanese

固定価格契約
130 millions of speakers

Translator English - Korean

고정 가격 계약
85 millions of speakers

Translator English - Javanese

Kontrak tetep-ragad
85 millions of speakers
vi

Translator English - Vietnamese

hợp đồng giá cố định
80 millions of speakers

Translator English - Tamil

நிலையான விலை ஒப்பந்தம்
75 millions of speakers

Translator English - Marathi

निश्चित किंमत करार
75 millions of speakers

Translator English - Turkish

Sabit fiyatlı sözleşme
70 millions of speakers

Translator English - Italian

contratto a prezzo fisso
65 millions of speakers

Translator English - Polish

umowy na czas cena
50 millions of speakers

Translator English - Ukrainian

Контракт з фіксованою ціною
40 millions of speakers

Translator English - Romanian

contract cu preț fix
30 millions of speakers
el

Translator English - Greek

σύμβαση σταθερής τιμής
15 millions of speakers
af

Translator English - Afrikaans

vaste prys kontrak
14 millions of speakers
sv

Translator English - Swedish

fastprisavtal
10 millions of speakers
no

Translator English - Norwegian

fastpris-kontrakt
5 millions of speakers

Trends of use of fixed-price contract

TRENDS

TENDENCIES OF USE OF THE TERM «FIXED-PRICE CONTRACT»

The term «fixed-price contract» is regularly used and occupies the 84.352 position in our list of most widely used terms in the English dictionary.
0
100%
FREQUENCY
Regularly used
61
/100
The map shown above gives the frequency of use of the term «fixed-price contract» in the different countries.
Principal search tendencies and common uses of fixed-price contract
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «fixed-price contract».

FREQUENCY OF USE OF THE TERM «FIXED-PRICE CONTRACT» OVER TIME

The graph expresses the annual evolution of the frequency of use of the word «fixed-price contract» during the past 500 years. Its implementation is based on analysing how often the term «fixed-price contract» appears in digitalised printed sources in English between the year 1500 and the present day.

Examples of use in the English literature, quotes and news about fixed-price contract

EXAMPLES

10 ENGLISH BOOKS RELATING TO «FIXED-PRICE CONTRACT»

Discover the use of fixed-price contract in the following bibliographical selection. Books relating to fixed-price contract and brief extracts from same to provide context of its use in English literature.
1
PMP Project Management Professional Exam Review Guide
Fixed price plus incentive Fixed Price Incentive Fee contracts are another type of ÛN fixed-price contract. The difference is that the contract includes an incentive— or bonus—for early completion or for some other agreed-upon performance ...
Kim Heldman, Vanina Mangano, 2009
2
Legal Aspects of Architecture, Engineering and the ...
the over-runs and under-runs according to the agreed formula.7 This form of contract has the advantage of establishing a price ceiling similar to the guaranteed cost to the owner under the fixed-price contract. By penalizing the contractor for ...
Justin Sweet, Marc Schneier, 2012
3
Cost Estimator's Reference Manual
13.3.5 Fixed-Price Contracts with Prospective Price Redetermination A fixed- price contract with prospective price redetermination provides for (1) a firm fixed price for an initial period of contract deliveries or performance, and (2) prospective ...
Rodney D. Stewart, Richard M. Wyskida, James D. Johannes, 1995
4
Government Contracts Reference Book
FIXED-PRICE LEVEL-OF-EFFORT CONTRACT A FIRM-FIXED- PRICE CONTRACT requiring (1) 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 (2) the ...
CCH Incorporated, 2007
5
A Concise Guide to Program Management: Fundamental Concepts ...
Under the fixed price contract format, the customer does not care what the costs of the contractor may be. The agreement under the fixed price form of contract simply says that any cost overrun will be the responsibility of the contractor.
Mitchell L. Springer, 2005
6
Regulating Public Procurement: National and International ...
The Fixed Price Contract With Adjustment Mechanism In addition to the firm fixed price contract, there are a variety of types of fixed price contracts that allow for price adjustment in special circumstances. A fixed-price contract with economic ...
Sue Arrowsmith, John Linarelli, Don Wallace, 2000
7
Contemporary Project Management
9 Any cost increase due to adverse performance is the responsibility of the seller, who is obligated to complete the effort. A simple form of a firm-fixed-price contract is a procurement order for a specified item to be delivered by a certain date for ...
Timothy Kloppenborg, 2011
8
Doe's Fixed-price Cleanup Contracts: Why Are Costs Still Out ...
Announced in 1995 with great fanfare by former Secretary O'Leary, the Pit 9 fixed -price contract with Lockheed Martin was supposed to cost a total of $200 million to complete cleanup of radioactive waste stored in thousands of barrels buried ...
Fred Upton, 2000
9
Acquisition Management
Figure 4-7, The Contract Risk Continuum, illustrates the range of the risk spectrum. At one end of the spectrum is the fixed-price contract, in which the contractor is totally accountable for performance costs and the percentage of profit or loss ...
R. Marshall Engelbeck, 2002
10
Contract Types: An Overview of the Legal Requirements and Issues
... or provide for price adjustments in the event of changes in the contractor's established prices 26 Contracting officers have substantial discretion in determining whether to include an economic price adjustment clause in a fixed- price contract, ...
Kate M. Manuel, 2011

10 NEWS ITEMS WHICH INCLUDE THE TERM «FIXED-PRICE CONTRACT»

Find out what the national and international press are talking about and how the term fixed-price contract is used in the context of the following news items.
1
Update: DAPA files countersuit demanding payment for cancelled F …
The contract to be cancelled - a USD139.96 million firm-fixed-price contract - was the first phase of an anticipated KRW1.3 trillion (USD1.2 ... «IHS Jane's 360, Jul 15»
2
Local Navy Contract Awards
Harris Corp., Government Communications Systems Division, Melbourne, Florida, is being awarded a $29,103,496 firm-fixed-price contract for ... «Southern Maryland Online, Jul 15»
3
Vecoplan to build feedstock processing system for Fulcrum
Vecoplan LLC announced that it has executed a fixed-price contract with Fulcrum BioEnergy Inc. to design, engineer, install and commission a ... «Biomass Magazine, Jul 15»
4
5 things to know today, and is Nike really building an 'insane' air …
The order is the second option of a five-year fixed-price contract between the Wilsonville imaging specialist and the U.S. Department of ... «Portland Business Journal, Jul 15»
5
FLIR lands $19M border patrol contract
The order is the second option of a five-year fixed-price contract between the Wilsonville company and the U.S. Department of Homeland ... «Portland Business Journal, Jul 15»
6
DoD Awards $36.8M Contract to Protect Against Evolving Threats
The cost-plus-incentive-fee, cost-plus-fixed fee and fixed-price contract was a sole-source acquisition. More than $5.7 million in fiscal year 2015 ... «Product Design & Development, Jul 15»
7
Navy Unveils Affordability Plan for Ford-Class Aircraft Carriers
Huntington Ingalls Industries' Newport News Shipbuilding arm is building Kennedy under a fixed-price contract with incentives for cost savings, ... «ExecutiveGov, Jul 15»
8
Stocks on the Move: T. Rowe Price Group (TROW), CIGNA (CI …
... Earth Orbit (GEO) satellites will receive this advanced spacecraft technology at no additional cost to the existing fixed-price contract. «Techsonian, Jul 15»
9
Transfield staff protest over EBA
... provision for a reasonable wage increase that is sustainable without compromising the viability of our fixed-price contract with” the shire. «Mornington Peninsula News, Jul 15»
10
BAE Mayport gets $26.8 million LHD 7 award
JULY 3, 2015 — BAE Systems Southeast Shipyards Mayport LLC, Jacksonville, FL, is being awarded a $26,828,516 firm-fixed-price contract for the phased ... «Marine Log, Jul 15»

REFERENCE
« EDUCALINGO. Fixed-Price contract [online]. Available <https://educalingo.com/en/dic-en/fixed-price-contract>. Apr 2024 ».
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