The Contract Price definition: Copy, customize, and use instantly
Introduction
The term "The Contract Price" refers to the total amount agreed upon for goods, services, or work performed under a contract. It establishes the financial obligation of one party to another and is critical for defining payment terms, adjustments, and obligations. "The Contract Price" ensures transparency in pricing, allowing for modifications, cost escalations, and compliance with contractual conditions.
Below are various examples of how "The Contract Price" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "The Contract Price" as a fixed amount
This definition ties "The Contract Price" to a predetermined and unchangeable sum.
"The Contract Price" means the total fixed amount payable under this Agreement for the specified goods, services, or works, subject to no adjustments except as explicitly stated herein.
Definition of "The Contract Price" as a cost-plus arrangement
This definition connects "The Contract Price" to actual costs plus an agreed markup.
"The Contract Price" refers to the sum of all actual costs incurred in the performance of the Agreement, plus a fixed percentage or fee as agreed upon by the parties.
Definition of "The Contract Price" as a lump-sum payment
This definition links "The Contract Price" to a single payment covering the entire contract.
"The Contract Price" means the total lump-sum amount payable by the Buyer to the Seller for full and complete performance under this Agreement.
Definition of "The Contract Price" as an adjustable rate
This definition applies "The Contract Price" to a price that may change based on specified conditions.
"The Contract Price" refers to the total amount payable, subject to price adjustments due to material cost fluctuations, labor rate changes, or other agreed-upon factors.
Definition of "The Contract Price" as a milestone-based payment
This definition ties "The Contract Price" to payments made upon reaching specific milestones.
"The Contract Price" means the total sum payable in installments, disbursed upon the completion of predetermined project milestones as outlined in this Agreement.
Definition of "The Contract Price" as a unit price contract
This definition connects "The Contract Price" to individual pricing per unit delivered.
"The Contract Price" refers to the total payable amount calculated based on unit prices set forth in this Agreement, multiplied by the quantity of units provided.
Definition of "The Contract Price" as an estimated cost basis
This definition links "The Contract Price" to a cost estimation rather than a fixed sum.
"The Contract Price" means the estimated total payable amount, subject to adjustments based on actual incurred costs, up to an agreed-upon maximum cap.
Definition of "The Contract Price" as inclusive of taxes and fees
This definition applies "The Contract Price" to an amount that covers taxes and regulatory fees.
"The Contract Price" refers to the total amount payable, inclusive of all applicable taxes, duties, and fees unless otherwise specified in this Agreement.
Definition of "The Contract Price" as excluding taxes and fees
This definition ties "The Contract Price" to a base amount before taxes and fees.
"The Contract Price" means the sum payable before the inclusion of any applicable taxes, duties, or fees, which shall be borne separately by the Buyer.
Definition of "The Contract Price" as a subject to performance deductions
This definition connects "The Contract Price" to potential deductions for non-performance.
"The Contract Price" refers to the agreed amount payable, subject to deductions for delays, defects, or failures to meet contractual performance standards.
Definition of "The Contract Price" as a subject to early payment discount
This definition links "The Contract Price" to possible reductions for early payments.
"The Contract Price" means the total payable sum, with an applicable discount if payment is made within the early payment period specified in this Agreement.
Definition of "The Contract Price" as a cost-sharing arrangement
This definition applies "The Contract Price" to shared costs between contracting parties.
"The Contract Price" refers to the total amount to be jointly borne by the parties according to the cost-sharing terms specified in this Agreement.
Definition of "The Contract Price" as a subject to currency fluctuations
This definition ties "The Contract Price" to potential changes in currency exchange rates.
"The Contract Price" means the payable amount, subject to adjustments based on fluctuations in foreign exchange rates as defined in this Agreement.
Definition of "The Contract Price" as a framework agreement pricing
This definition connects "The Contract Price" to a pricing model used in framework agreements.
"The Contract Price" refers to the agreed unit pricing structure applicable under the framework agreement, subject to periodic adjustments as specified in this Agreement.
Definition of "The Contract Price" as subject to retainage
This definition links "The Contract Price" to retained amounts withheld until full performance.
"The Contract Price" means the total sum payable, subject to a retainage percentage to be released upon final project completion and acceptance.
Definition of "The Contract Price" as a time and materials basis
This definition applies "The Contract Price" to actual time and material costs incurred.
"The Contract Price" refers to the total amount determined based on actual labor hours, material costs, and any agreed overhead expenses incurred during contract execution.
Definition of "The Contract Price" as an indexed price agreement
This definition ties "The Contract Price" to an indexed pricing structure.
"The Contract Price" means the payable sum, subject to adjustments based on changes in an agreed-upon price index or inflation rate.
Definition of "The Contract Price" as a scope-dependent variable price
This definition connects "The Contract Price" to pricing that varies based on project scope.
"The Contract Price" refers to the total sum payable, which may fluctuate based on the scope of work performed or adjustments agreed upon during execution.
Definition of "The Contract Price" as an incentive-based contract
This definition links "The Contract Price" to a structure rewarding efficiency and performance.
"The Contract Price" means the sum payable, including additional incentive payments for early completion, cost savings, or exceeding performance benchmarks.
Definition of "The Contract Price" as subject to change order adjustments
This definition applies "The Contract Price" to modifications through formal change orders.
"The Contract Price" refers to the total amount payable, subject to increases or decreases resulting from approved change orders during contract execution.
Definition of "The Contract Price" as a progressive payment contract
This definition ties "The Contract Price" to a gradual payment schedule based on progress.
"The Contract Price" means the total sum payable in progressive installments based on work completed and certified in accordance with contract terms.
Definition of "The Contract Price" as a guaranteed maximum price contract
This definition connects "The Contract Price" to a price cap ensuring cost limits.
"The Contract Price" refers to the maximum amount payable, with any cost overruns beyond this amount absorbed by the contractor unless otherwise agreed.
Definition of "The Contract Price" as a subscription-based pricing
This definition links "The Contract Price" to recurring subscription payments.
"The Contract Price" means the total amount payable in recurring installments as part of a subscription-based service agreement.
Definition of "The Contract Price" as a fixed-term pricing model
This definition ties "The Contract Price" to a price valid for a specific period.
"The Contract Price" means the total amount payable under this Agreement, fixed and applicable for the contract duration, unless modified by mutual agreement.
Definition of "The Contract Price" as a volume-based price
This definition connects "The Contract Price" to the quantity of goods or services provided.
"The Contract Price" refers to the total payable sum, which varies based on the volume of goods or services ordered under this Agreement.
Definition of "The Contract Price" as a ceiling price contract
This definition links "The Contract Price" to a maximum allowable cost.
"The Contract Price" means the maximum amount payable under this Agreement, with any cost savings shared between the parties per the agreed terms.
Definition of "The Contract Price" as a performance-based contract
This definition applies "The Contract Price" to payments linked to performance results.
"The Contract Price" refers to the total amount payable, contingent on achieving defined performance metrics, benchmarks, or service levels.
Definition of "The Contract Price" as a staged payment agreement
This definition ties "The Contract Price" to staged payments at specific intervals.
"The Contract Price" means the total amount payable, with payments released at agreed-upon stages of contract execution, subject to performance verification.
Definition of "The Contract Price" as a negotiated settlement price
This definition connects "The Contract Price" to a price determined through negotiation.
"The Contract Price" refers to the final agreed-upon amount between the parties, determined through negotiation and formalized within this Agreement.
Definition of "The Contract Price" as a risk-sharing contract
This definition links "The Contract Price" to a shared risk model between parties.
"The Contract Price" means the amount payable under this Agreement, with costs and profits shared based on predefined risk allocation terms.
Definition of "The Contract Price" as an installment-based agreement
This definition applies "The Contract Price" to a structured installment plan.
"The Contract Price" refers to the total sum payable, divided into scheduled installment payments as outlined in this Agreement.
Definition of "The Contract Price" as an export/import transaction price
This definition ties "The Contract Price" to international trade terms.
"The Contract Price" means the total amount payable, subject to international trade regulations, duties, and customs fees as applicable under this Agreement.
Definition of "The Contract Price" as an indexed commodity price contract
This definition connects "The Contract Price" to fluctuations in commodity pricing.
"The Contract Price" refers to the sum payable, subject to adjustments based on market fluctuations of the underlying commodity as referenced in this Agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.