Fixed-price Contract
Fixed-price Contract is a contract where the total cost is agreed upfront for a defined scope. You know exactly what you'll pay, but changes outside the original scope cost extra.
Definition
A contract where the total cost is agreed upfront for a defined scope. You know exactly what you'll pay, but changes outside the original scope cost extra.
Example
"We'll build your landing page, 5 inner pages, and contact form for $15,000." Anything beyond that is a change order.
Related Terms
More Business & Contracting Terms
MVP - Minimum Viable Product
The simplest version of your product that still solves the core problem. Ship fast, learn from real users, then improve. Don't build everything at once.
POC - Proof of Concept
A small test to prove an idea actually works before investing serious time or money. It's not a product—it's evidence that building the product makes sense.
Prototype
A working model of your product used for testing and feedback. It doesn't need to be pretty or complete—it needs to let people interact with your idea.
Wireframe
A basic sketch showing the layout and structure of a page without any design polish. Think blueprint, not finished building. It's about where things go, not how they look.
Mockup
A high-fidelity visual design showing exactly how the final product will look. Unlike wireframes, mockups include colors, typography, and real content.