It is the most commonly used pricing method in day-to-day purchasing transactions. It means that the price to which the purchaser and the vendor agree will not change until the material is delivered and the transaction is completed. This is called a:

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A firm price is a pricing method where the agreed-upon price between the purchaser and vendor remains unchanged until the transaction is completed. This is commonly used in day-to-day purchasing transactions. Contract price may also be used in some cases, but it implies a more formalized agreement and may not be as common in everyday transactions. Hedging is not a pricing method, but rather a risk management strategy.

It Is the Most Commonly Used Pricing Method in Day-To-Day