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   What are the different types of government contracts?

   • Learn here about each type of government contract designed to align with the specific needs of the federal government and the contractor. 1. Fixed-price contracts 2. Time and materials contracts 3. Cost-reimbursement contracts/cost plus fixed fee contracts 4. Indefinite delivery, indefinite quantity contracts 5. Labor-hour contracts 6.

   What are the Different Types of Government Contracts? - ExecutiveGov

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   What is a government contract?

   • This type of government contract is also called a firm-price or lump-sum contract. With the nature of this contract type, contractors can’t ask for additional funding if the project ends up costing more than expected. They need to manage their expenses carefully because they’re always at risk of paying extra costs.

   What are the Different Types of Government Contracts? - ExecutiveGov

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   What are the different types of contracts?

   • 1. Fixed-price contracts 2. Time and materials contracts 3. Cost-reimbursement contracts/cost plus fixed fee contracts 4. Indefinite delivery, indefinite quantity contracts 5. Labor-hour contracts 6. GSA schedule contracts 7. Modification contracts 8. Set-aside contracts What is the best type of contract?

   What are the Different Types of Government Contracts? - ExecutiveGov

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   What is the comparison of major contract types chart?

   • Description The Comparison of Major Contract Types Chart is based on the information in the Contract Pricing Reference Guides (Volume 4 – Advanced Issues in Contract Pricing, Chapter 1 - Establishing And Monitoring Contract Type), and updated for statutory/regulatory/policy changes and court decisions that have not been included in the Guides.

   Comparison of Major Contract Types Chart | www.dau.edu

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2. www.acquisition.gov › far › part-16Part 16 - Types of Contracts | Acquisition.GOV

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   This part describes types of contracts that may be used in acquisitions. It prescribes policies and procedures and provides guidance for selecting a contract type appropriate to the circumstances of the acquisition.

   • Subpart 16.3

     (a) A cost-reimbursement contract may be used only when (1)...

   • Fixed-Price Contracts

     (a) Fixed-price types of contracts provide for a firm price...

3. executivegov.com › articles › different-types-ofWhat are the Different Types of Government Contracts?

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   Apr 18, 2024 · 8 Different Types of Government Contracts. Here are the different types of government contracts, including their examples, advantages, and disadvantages. 1. Fixed-price contracts

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5. www.dau.edu › acquipedia-article › contract-typesContract Types | www.dau.edu

   www.dau.edu › acquipedia-article › contract-types

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   Most contract types fall into two general categories: fixed-price contracts and cost-reimbursement contracts. Fixed-price contracts place full responsibility on the contractor for performance costs and resulting profit (or loss). Cost-reimbursement contracts impose minimal responsibility onto the contractor for performance costs.

6. www.famr.us › learn › types-of-government-contractsUnderstanding the 4 Types of Government Contracts | FAMR

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   • Fixed-Price Contracts
   • Cost-Reimbursement/Cost-Plus Contracts
   • Time-And-Material Contracts
   • Indefinite Delivery, Indefinite Quantity (IDIQ) Contracts

   The first and most basic type of contract is fixed-price, also known as lump sum contracts. As the name suggests, these use a set price that doesn’t change based on the incurred costs by the contractor. The price is instead estimated at the beginning of the process, and if costs end up going above the estimation, the contractor is responsible. This...

   See full list on famr.us

   When situations call for more flexibility around final expenses, cost-reimbursement (or cost-plus) contracts are used. Generally, an estimated quote is provided by the seller at the beginning of the process, with the finalized price being determined either at the completion of the project or at a designated date along the project timeline. The flex...

   See full list on famr.us

   Presenting the least risk to contractors and the most risk to the government (and therefore why they’re much less common), time-and-materials contracts can be thought of as payment by the hour and material costs. Only used when the estimation of project scope and costs are even more difficult or unclear than cost-reimbursement, T&M contracts use an...

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   The last of the major contract types is relatively common in the federal marketplace, and can use either fixed-price or cost-reimbursement models. The indefinite part of the name refers to the fact that these contracts often have recurring “task orders” under the umbrella or main contract. This allows the government to not only specify if each task...

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7. www.govconwire.com › articles › types-of-governmentTypes Of Government Contracts That You Should Know

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   • Fixed-Price Contract. The federal government sets a firm value on a fixed-price government contract. This means that the government contractor shoulders all the responsibility in ensuring that the government project falls within the budget—and they have complete control over how much profit they can earn from it.
   • Cost-Reimbursement Contract. Cost-reimbursement contracts are types of contracts where the federal government will compensate the costs incurred by the government contractor, as long as the value falls within the set ceiling price.
   • Incentive Contract. Like what was mentioned above, incentive contracts are types of government contracts that reward government contractors with additional financial compensation to recognize their stellar performance and motivate them to do better in their job.
   • Time and Materials Contract. Compared to fixed-price contracts, the federal government prefers time and materials contracts when they are unable to give an accurate estimate of how much product they will need and what level of work they will need, such as when responding to emergencies and disasters.

8. www.gsascheduleservices.com › blog › types-ofExplore the Different Types of Government Contracts

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   Nov 22, 2023 · There are four primary types of government contracts: Fixed-price contracts. Cost-reimbursement contracts. Time and materials contracts. Indefinite delivery/indefinite quantity (IDIQ) contracts.

9. www.dau.edu › tools › comparison-major-contractComparison of Major Contract Types Chart | www.dau.edu

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   Jan 30, 2023 · Description The Comparison of Major Contract Types Chart is based on the information in the Contract Pricing Reference Guides (Volume 4 – Advanced Issues in Contract Pricing, Chapter 1 - Establishing And Monitoring Contract Type), and updated for statutory/regulatory/policy changes and court decisions that have not been included in the Guides.