FAR 16.201 General
Section Federal Acquisition Regulation
Facts
- Citation
- FAR 16.201
- Type
- Section
- Last amended
- 86 FR 61017 Effective Dec 6, 2021
- Proposed changes
- 1
- Text as of
- FAC 2026-01
- Official text
- acquisition.gov
Text from acquisition.gov. Federal Register history from the Federal Register's records of the rules that amended this section.
Text
(a) Fixed-price types of contracts provide for a firm price or, in appropriate cases, an adjustable price. Fixed-price contracts providing for an adjustable price may include a ceiling price, a target price (including target cost), or both. Unless otherwise specified in the contract, the ceiling price or target price is subject to adjustment only by operation of contract clauses providing for equitable adjustment or other revision of the contract price under stated circumstances. The contracting officer shall use firm-fixed-price or fixed-price with economic price adjustment contracts when acquiring commercial products and commercial services, except as provided in 12.207(b).
(b) Time-and-materials contracts and labor-hour contracts are not fixed-price contracts.
Federal Register history
Proposed changes
| Proposed rule | Published | Comments |
|---|---|---|
| Federal Acquisition Regulation: Revolutionary Federal Acquisition Regulation Overhaul Parts 16, 17, and 35 | Closed Oct 19, 2026No final rule found |
Sections cited
- FAR 12.207(b) Contract type
Quick answers
What is FAR 16.201?
FAR 16.201 is a section of the Federal Acquisition Regulation, titled "General".
When was FAR 16.201 last changed?
The most recent final rule on record is "Federal Acquisition Regulation: Revision of Definition of “Commercial Item”" (86 FR 61017), published Nov 4, 2021 and effective Dec 6, 2021.
Are changes to FAR 16.201 proposed?
One proposed change has no final rule yet.
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