In a/an ____ contract,the supplier receives reimbursement for all of its allowable costs up to a predetermined amount plus a fixed fee,which typically represents a percentage of the targeted cost of the good or service being procured.

Question

Quizplus · Accepted Answer

In a cost plus fixed-fee contract, the supplier is reimbursed for all allowable costs up to a predetermined amount, plus a fixed fee, which is usually a percentage of the targeted cost of the product or service being procured. This type of contract is typically used when the extent of work to be performed cannot be accurately defined at the outset of the contract or when the materials and labor needed for the project are subject to cost fluctuations.

In A/an ____ Contract,the Supplier Receives Reimbursement for All of Its