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What is the type of contract that has a target cost and a ceiling cost?
Other
Cost Plus Incentive Fee
Time and Materials
Fixed Price Incentive Fee
Cost Plus Fixed Fee
Firm Fixed Price
Fixed Price Incentive Fee (FPIF) is the type of contract that has a target cost and a ceiling cost. The ceiling is what puts this type of contract in the fixed price category. Any costs over the ceiling are the responsibility of the seller. This type of contract establishes a target cost and incentive fees. The incentive fees are negotiated and can be cost, schedule or performance oriented.
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