contract type

The various forms of contracts by which goods/ services can be acquired.

See "Cost plus fixed fee", "Cost plus incentive fee", "Cost plus percentage of cost", "Firm fixed price", "Fixed price plus incentive fee", and " Unit price contracts".

Categories of contracts that are differentiated according to:1. 'The degree and timing of the responsibility assumed by the contractor for the costs of performance; and 2. The amount and nature of the profit incentive offered to the contractor for achieving or exceeding specified standards or goals.

SOURCE: apm.com”