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Title 48 → Chapter 1 → Subchapter C → Part 16 → Subpart 16.2 → §16.207-2 |
Title 48: Federal Acquisition Regulations System
PART 16—TYPES OF CONTRACTS
Subpart 16.2—Fixed-Price Contracts
16.207-2 Application.
A firm-fixed-price, level-of-effort term contract is suitable for investigation or study in a specific research and development area. The product of the contract is usually a report showing the results achieved through application of the required level of effort. However, payment is based on the effort expended rather than on the results achieved.