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  • (public College And University Fixed Price Contract) Gp6 (rev 09152011)

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These General Provisions and all other terms and conditions set forth in this proposed purchase contract (collectively, the Contract ), is Buyer's offer to purchase the goods and/or services (collectively, the Services ) from a public college or university (herein referred to as Seller ) as described in this offer. Acceptance is strictly limited to the terms and conditions included in this offer. Unless specifically agreed to in writing by Buyer's Authorized Procurement Represent.

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A fixed-price contract can be beneficial if you have a clear project scope, deliverables, and timeline; it can help control your budget, reduce risk, and simplify payment processing. However, to avoid any issues or conflicts, careful planning and management is necessary.

A firm-fixed-price contract provides for a price that is not subject to any adjustment on the basis of the contractor's cost experience in performing the contract. This contract type places upon the contractor maximum risk and full responsibility for all costs and resulting profit or loss.

Example #1: Rent Rent is a common fixed cost. Regardless of how much product you sell or produce, the rent you're contractually required to pay remains unchanged while you stay within the same office or production space. The only way you could affect this expense is by negotiating it with your landlord.

Graduated Fixed Price Contract In this model, the customer pays the seller a standard rate if the contract gets delivered on time. But if the contract is delivered early, the seller gets paid at a higher rate. The customer is happy because the contract is completed early, and they might pay less money overall.

Fixed-price contracts can pose a risk when there is a long lead time between the start of the project and its completion. Market and economic conditions may change, leading to increased costs or unforeseen circumstances.

Fixed-Price Contract Risks and Disadvantages One gains, one loses. Fixed-Price contracts always benefit one side – it's either you or your contractor. ... Fixed-Price contract means fixed scope. ... Poor relationship. ... Profitability first. ... Extremely detailed specification. ... Not what you expected.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232