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Contract Type_ Code. Type/Code. Content |
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Full CL |
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Cost plus incentive fee |
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A cost-plus-incentive-fee contract is a cost-reimbursement contract that provides for an initially negotiated fee to be adjusted later by a formula based on the relationship of total allowable costs to total target costs. |
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Cost sharing |
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A cost-sharing contract is a cost-reimbursement contract in which the contractor receives no fee and is reimbursed only for an agreed-upon portion of its allowable costs. |
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Letter Contract |
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A letter contract is a written preliminary contractual instrument that authorizes the contractor to begin immediately manufacturing supplies or performing services. |
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Cost |
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A cost contract is a cost-reimbursement contract in which the contractor receives no fee. |
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Cost plus award fee |
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A cost-plus-award-fee contract is a cost-reimbursement contract that provides for a fee consisting of (a) a base amount (which may be zero) fixed at inception of the contract and (b) an award amount, based upon a judgmental evaluation by the contractee, sufficient to provide motivation for excellence in contract performance. |
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Cost plus fixed fee |
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A cost-plus-fixed-fee contract is a cost-reimbursement contract that provides for payment to the contractor of a negotiated fee that is fixed at the inception of the contract. |
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Fixed price incentive, firm target, with performance incentives |
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A fixed-price incentive contract, with a firm target, specifies a target cost, a target profit, a price ceiling, and a profit adjustment formula. Non-cost performance of the contractor is factored into the final profit level. |
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Fixed price incentive, firm target, without performance incentives |
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A fixed-price incentive contract, with a firm target, specifies a target cost, a target profit, a price ceiling, and a profit adjustment formula. Non-cost performance of the contractor is not factored into the final profit level. |
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Fixed price redetermination prospective |
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A fixed-price contract with prospective price redetermination provides for: (a) a firm fixed price for an initial period of contract deliveries or performance; and (b) prospective redetermination, at a stated time or times during performance, of the price for subsequent periods of performance. |
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Fixed price incentive, successive targets, with performance incentives |
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A fixed-price incentive, with successive targets, contract specifies an initial target cost, an initial target profit, an initial profit adjustment formula, the production point at which the firm target cost and firm target profit will be negotiated, and a ceiling price. Non-cost performance of the contractor is factored into the final profit level. |
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Fixed price incentive, successive targets, without performance incentives |
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A fixed-price incentive, with successive targets, contract specifies an initial target cost, an initial target profit, an initial profit adjustment formula, the production point at which the firm target cost and firm target profit will be negotiated, and a ceiling price. Non-cost performance of the contractor is not factored into the final profit level. |
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Fixed price award fee |
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A firm-fixed-price, award-fee, term contract specifies an award fee to motivate a contractor such as when other incentives cannot be used because contractor performance cannot be measured objectively. |
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Fixed price level of effort |
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A firm-fixed-price, level-of-effort, term contract specifies the level of effort required by the contactor and the fixed monetary amount to be paid to the contractor. |
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No cost |
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A no-cost contract is a contract in which the goods or services provided have little or no cost. |
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Fixed price redetermination retroactive |
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A fixed-ceiling-price contract with retroactive price redetermination specifies a fixed ceiling price and a retroactive price redetermination within the ceiling after completion of the contract. |
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Firm fixed price |
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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. |
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Fixed price with economic price adjustment |
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A fixed-price contract with economic price adjustment provides for upward and downward revision of the stated contract price upon the occurrence of specified contingencies, such as changes to initial estimates or changes to price or cost indices. |
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Labour hours |
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A labour-hours contract provides for acquiring supplies or services on the basis of direct labour hours at specified fixed hourly rate(s), regardless of the cost for any materials. |
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Time and materials |
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A time-and-materials contract provides for acquiring supplies or services on the basis of direct labour hours at specified fixed hourly rate(s) and the actual cost for materials. |
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Mutually Agreed |
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Mutually agreed upon value. |
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