Use this tag for any questions about contracts that have a fixed value or fixed cost associated with them.
Use this tag for questions about contracts where the price is not hourly but is set before the work begins.
A Fixed Price contract is one in which the price is fixed, irrespective of the time (or materials) incurred. Places the risk (but also potentially the reward) onto the supplier.
Compare with a time-and-materials or price-per-hour contracts, whereby the client is billed for the number of hours worked and any expenses incurred.
