Fixed ceiling price contract with retroactive price redetermination

Definition
A fixed-ceiling-price contract with retroactive price redetermination provides for &mdash;


 * (a) A fixed ceiling price; and
 * (b) Retroactive price redetermination within the ceiling after completion of the contract. }

Overview
"is appropriate for research and development contracts estimated at $150,000 or less when it is established at the outset that a fair and reasonable firm Firm fixed-price contract cannot be negotiated and that the amount involved and short performance period make the use of any other fixed-price contract type impracticable."