What Does FFP Stand For?
FFP stands for Firm Fixed Price
Firm Fixed Price (FFP) is a contractual agreement in which the seller agrees to deliver specified goods or services at a predetermined price that is fixed, regardless of the actual costs incurred. This type of contract provides certainty for both parties, as the price does not change unless the scope of work is modified. FFP contracts are commonly used in government procurement and private sector projects to control costs and provide a clear budget framework.
Added on 14th April 2008 | Last edited on 17th June 2025 | Edit Acronym