0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What contract type puts the full risk on the contractor?
Fixed Pric
What contract type places the greatest risk on the buyer?
fixed price + Incentive
Which type of contract shifts the risk of cost overruns to the contractr?
Fixed-Price Incentive
Which type of contract addresses situations when the exact product or service cannot be determined?
fixed-celling price with retroactive price redetermination
Having contractor take accountability for the risk by using a firm-fixed price contract?
By using a firm-fixed price contract, the contractor is held accountable for any unforeseen risks or additional costs that may arise during the project. This type of contract specifies a set price that the contractor must adhere to, regardless of any fluctuations in the market or unexpected circumstances. It ensures that the contractor bears the responsibility for managing risk and delivers the project within the agreed-upon budget.
What type of market is the commodity market?
there are two types that are part of the commodity futures market. A normal futures market is one where the price of the nearby contract is less than the price of the distant futures contract. The other is an inverted futures market, the price of the near contract is greater then the price of the distant contract.
What is the cost plus fixed fee contract?
A type of cost reimbursement contract that assigns minimal responsibility for costs and for which a fixed fee is negotiated. The fee provides an incentive for a subcontractor to contract for efforts that might otherwise pose too great a risk to it to assume.
What type of company is the Commodity Futures market?
there are two types that are part of the commodity futures market. A normal futures market is one where the price of the nearby contract is less than the price of the distant futures contract. The other is an inverted futures market, the price of the near contract is greater then the price of the distant contract.
What is a fixed annuity?
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
Which is the least preferred contract type because it places the greatest risk on the government?
T&M Time and Material (T&M ) contracts are used for acquiring supplies or services on the basis of direct labor hours at specified fixed hourly rates that include wages, overhead, general and administrative expenses, and profit; and materials at cost. They may be used only when it is not possible at the time of placing the contract to estimate accurately the ex tent or duration of the work or to anticipate costs with any reasonable degree of confidence. Because it places the most risk on the Government, T&M is the least preferred contract type.
What contract type cannot be used when purchasing a commercial item or service?
Cost plus fixed fee
What is a fixed income annuity?
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
