Firm-fixed-price contract is agreement

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Reference no: EM131603408

Give an original response to the following statement:

A firm-fixed-price contract is an agreement that the price is not subject to any change on the basis of the contractor’s cost experience in performing the contract. As a result, this type of contract places maximum risk and full responsibility for all costs of the project on the contractor regardless if it results in a profit or loss.

Reference no: EM131603408

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