Fixed price

A fixed price is a price that is locked in for a period of time. There are several possible reasons why a price may be fixed, including the following:

  • The price has been agreed upon in a formal contract
  • The entity selling goods or services has elected as a policy to offer the same price to all customers or classes of customers
  • The price has been fixed by an agreement between governments
  • The price has been mandated by a government