Meaning of “fixed price” in the English Dictionary

business-english dictionary

"fixed price" in Business English

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fixed pricenoun [ C ]


a price that will not change after it is agreed:

With a fixed-price contract, the builder pays all extra costs beyond its agreed-upon value.

a price that is set by a government, etc.:

In this model, if the price of oil were to rise above the fixed price set by the U.S. government, the government would pay the difference.

(Definition of “fixed price” from the Cambridge Business English Dictionary © Cambridge University Press)