FIXED PRICE REDETERMINABLE CONTRACT
\fˈɪkst pɹˈa͡ɪs ɹˌiːdɪtˈɜːmɪnəbə͡l kˈɒntɹakt], \fˈɪkst pɹˈaɪs ɹˌiːdɪtˈɜːmɪnəbəl kˈɒntɹakt], \f_ˈɪ_k_s_t p_ɹ_ˈaɪ_s ɹ_ˌiː_d_ɪ_t_ˈɜː_m_ɪ_n_ə_b_əl k_ˈɒ_n_t_ɹ_a_k_t]\
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A contract that gives review and retroactive revision on price during the contract drafting. AKA fixed price contract with provision for redetermination of price. Refer to fixed price contract with economic price adjustment and fixed price contract with p
By Henry Campbell Black
Word of the day
hydromorphic
- [Greek] Structurally adapted to an aquatic environment, as organs of water plants.