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Bookmark or Share- Hourly vs. Fixed-Fee Billing: What is the Difference?Fixed-Fee Billing. In a fixed-fee billing model, we look at an estimate of what we think the work will take in terms of time, assign an hourly rate to it (which you never see), and then add a cushion factor to it, thereby coming up with the fixed fee to do the work.
- Fixed-Price Contract | Definition, Types, and Tips - Finance StrategistsA Fixed-Price Contract (also known as a “lump sum” or “fixed fee” contract) is an agreement between two parties in which the buyer agrees to purchase goods or services for a set price, regardless of the actual cost to produce them.
- Fixed Price Explained: What Is It? How Does It Work?Fixed prices create cash flow certainty for businesses and customers. Setting fixed prices involves careful consideration of costs, desirable profit margins, customer demand and competition. Fixed-price contracts can permit periodic price adjustments, and/or can set a ceiling or target price.
- What Is a Cost Plus Fixed Fee Contract? - LegalMatchA “Cost Plus Fixed Fee Contract” is a type of contract where the buyer agrees to cover the actual costs, risks, and a fixed fee payment that is usually calculated as a percentage of the initial estimated project costs.
- Time and Materials vs. Fixed Fee Contracts: Pros, Cons ... - ProcoreLearn the advantages and disadvantages of time and materials vs. fixed fee contracts — for both project owners and contractors alike.
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