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There is no single contract type that is right for every contracting situation.Selection must be made on a case-by-case basis considering contract risk, incentives for contractor performance, and other factors such as the adequacy of the contractor's accounting system.
When you prepare the invitation for bids (IFB), the contract clause must be established in a way that is compatible with the requirements of the sealed bidding process.. Where: I1 = Index for Base Period I2 = Index for Adjustment Period S = Percentage of Price Subject to Adjustment P = Base Unit Contract Price Example of an Economic Price Adjustment.
The proposed profit sharing formula would motivate the contractor to control costs to and meet other objectives.
Highly uncertain and speculative labor hours, labor mix, and/or material requirements (and other things) necessary to perform the contract.
In developing an FPEPA contract, you can choose from the FAR EPA clauses, use an agency-prescribed clause, or develop your own unique clause following agency guidelines.
For commercial items, consider market research and commercial practice in clause development.).