Question 1 You are considering using a fixed-price (FP) contract, because you have well-defined requirements...
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Finance
Question 1
You are considering using a fixed-price (FP) contract, because you have well-defined requirements for your construction project. With your requirements and your understanding of the seller's competition, you are confident you will be able to establish a complete statement of work. The fee or profit in this type of contract is:
Determined with the other party at the end of the project
Unknown
Applied as a line item to every invoice
Part of the negotiation involved in paying every invoice
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