SAB7#140 Contract Types

FP - Fixed Price
1. Pay one amount regardless of how much it costs the contractor to do the work.
FPIF - Fixed Price plus Incentive Fee
1. Pay a fixed price for the contract and give a bonus based on some performance goal.
FPAF - Fixed Price Award Fee
1. Pay a fixed Price plus and award amount based on performance, detemined in advance apportioned based on performance.
FPEPA - Fixed Price Economic Price Adjustment
1. Cover a multiyear period providing certainty.
Purchase Order
1. Unilateral and used for simply commodity procurements.
T&M - Time and Materials
1. Pay a rate for each of the people working on your project plus their materials costs.
CR - Cost Reimbursable
1. Provides the buyer to pay the seller allowable incurred costs to the extent prescribed.
Cost Contract
1. The seller receives no fee.
CPF - Cost Plus Fee
CPPC - Cost Plus Percentage of Costs
1. Requires the buyer to pay for all costs plus a percentage of cost as a fee.
CPFF - Cost Plus Fixed Fee
1. Provides for payment to the seller of actual costs plus a negotiated fee that is fixed before the work begins.
CPIF - Cost Plus Incentive Fee
1. Provides for the seller to be paid for actual costs plus a fee that will be adjusted based on whether the specific performance objectives stated
CPAF - Cost Plus Award Fee
1. The buyer pays all costs and a base fee plus an award amount based on perfomance.

Resource summary

	Created by Oscar De la O over 8 years ago