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What is the type of contract designed for long-term engagements, especially when the contract includes goods or services that have volatile pricing?
Cost Plus Fixed Fee
Fixed Price with Economic Price Adjustment
Fixed Price Incentive Fee
Time and Materials
Cost Plus Incentive Fee
Other
Fixed Price with Economic Price Adjustment (FP-EPA) is a type of contract that is designed for long-term engagements, particularly when the contract includes goods or services with volatile pricing. The Economic Price Adjustment clause uses an agreed-upon index, such as inflation, the interest rate, or the consumer price index to adjust the final contract cost.
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