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A cost reimbursable contract with a fixed fee provides the contractor with a fee or profit amount that is determined at the beginning of the contract and does not change.
Fixed Fee for Providing Water
On the new water plant project, the project accountant reviewed each bill, including time cards for labor, invoices for materials, and other documents that supported the invoice. The contractor was then reimbursed for the allowable costs plus the administrative fee and a fixed amount for his profit.
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