A contract might be for a fixed price; the customer will pay the contractor whatever the actual costs are for the materials and the time.

Name: A contract might be for a fixed price; the customer will pay the contractor whatever the actual costs are for the materials and the time.
Brand: Quizplus
Rating: 4.9 (32 reviews)

Question

Quizplus · Accepted Answer

A fixed price contract means the customer and contractor agree upon a set price for the project beforehand, regardless of actual costs for materials and time. The statement in the question describes a cost-plus contract.

A Contract Might Be for a Fixed Price; the Customer