Fixed-Price Contract

A fixed-price contract is an agreement where the contractor commits to completing a defined scope of work for a single agreed sum, regardless of actual costs incurred. If material prices rise or productivity is lower than expected, the contractor bears that risk — not the client. The contract price is fixed from signing to handover.

For a genuine fixed-price contract to hold, the scope must be fully defined upfront — including design, materials specifications, and BOQ. A fixed-price contract with vague specifications is not truly fixed: variation orders will follow. In Indian office fit-out, fixed-price contracts on a fully specified BOQ are the most effective tool a client has for budget certainty. Vektor Spaces exclusively uses fixed-price contracts after design sign-off, which typically happens in weeks 2–4 of a project engagement.

Get a fixed-price estimate from Vektor Spaces — design, build, and handover in one contract.