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PART I THE SCHEDULE 1 SECTION A SOLICITATION/CONTRACT FORMS 1442 SOLICITATION, OFFER, AND AWARD (Construction, Alteration, or Repair)BID Schedules is a Prefixed Price, Indefinite Delivery Indefinite
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A firm-fixed price contract is an agreement in which the price remains constant regardless of the actual costs incurred by the contractor.
Typically, contractors who are awarded firm-fixed price contracts by government agencies or private organizations are required to file this type of agreement.
To fill out a firm-fixed price contract, one must include the project description, fixed price amount, payment terms, delivery schedule, and any applicable clauses or provisions.
The purpose of a firm-fixed price contract is to provide a clear and fixed price for the goods or services being provided, allowing for predictable budgeting and reduced financial risk for the buyer.
The information that must be reported includes the contract number, contractor details, project specifications, pricing terms, and any modifications or amendments made to the original agreement.
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