FAR 31.102 Fixed-price contracts
Section Federal Acquisition Regulation
Facts
- Citation
- FAR 31.102
- Type
- Section
- 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
The applicable subparts of part 31 shall be used in the pricing of fixed-price contracts, subcontracts, and modifications to contracts and subcontracts whenever (a) cost analysis is performed, or (b)a fixed-price contract clause requires the determination or negotiation of costs. However, application of cost principles to fixed-price contracts and subcontracts shall not be construed as a requirement to negotiate agreements on individual elements of cost in arriving at agreement on the total price. The final price accepted by the parties reflects agreement only on the total price. Further, notwithstanding the mandatory use of cost principles, the objective will continue to be to negotiate prices that are fair and reasonable, cost and other factors considered.
Sections cited
- FAR Part 31 Contract Cost Principles and Procedures
Quick answers
What is FAR 31.102?
FAR 31.102 is a section of the Federal Acquisition Regulation, titled "Fixed-price contracts".
Are changes to FAR 31.102 proposed?
No proposed rule from the last 3 years is waiting on a final rule.
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