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The Complete Guide to Government Contract Types by Kenneth R. Segel

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CHAPTER 4

Fixed-Ceiling-Price Contract with Retroactive Price Redetermination

When a noncompetitive, low-value contract is required, but there is no time to justify the price prior to issuance, a fixed-ceiling-price contract with retroactive price redetermination (FPRR) may be the ideal contract type. To ensure an expeditious procurement, the CO must have a comprehensive understanding of this contract type, including its definition, use, application, price, limitations, benefits, constraints, performance requirements, financial elements, and associated risks.

When funding must be allocated quickly to commence work on a low-value R&D agreement, but it is not possible to negotiate a fair and reasonable price at time of award, FAR 16.206-2 allows ...

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