Federal Acquisition Regulation
Types of contracts
FAR 14.104
Firm-fixed-price contracts shall be used when the method of contracting is sealed bidding, except that fixed-price contracts with economic price adjustment clauses may be used if authorized in accordance with Fixed-price contracts with economic price adjustment (FAR 16.203) when some flexibility is necessary and feasible. Such clauses must afford all bidders an equal opportunity to bid.
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