Fixed-Price Contracts Are Simple – Or Are They?
Firm fixed-price contracts seem like a simple concept in practice — agreements that do not allow for the modification of the contract price after award without an express agreement between the parties. But in reality, there is very little case law guiding the practical approach to these types of contracts, writes Marion T. Hack of Pepper Hamilton.
In her article on the firm’s website, she examines the definition of fixed-price contracts and cases in which the audit provision in the contract has been unsuccessfully used to assert claims for reimbursement and False Claims Act liability.
