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. This includes 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.