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FAR

FAR

FAC Number: 2024-03
Effective Date: 02/23/2024

16.207-2 Application.

16.207-2 Application.

A firm-fixed-price, level-of-effort term contract is suitable for investigation or study in a specific research and development area. The product of the contract is usually a report showing the results achieved through application of the required level of effort. However, payment is based on the effort expended rather than on the results achieved.

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