fixed-price contract

https://acornmetric.com/s/n7TQttTd-w1IgK6PemFcZ

A fixed-price contract sets the cost upfront, so you know exactly what you'll pay before work begins. It's great for projects with clear requirements, like building a deck or developing a basic website, because the risk of cost overruns falls on the contractor. But if surprises pop up—like discovering hidden structural issues—any extra work usually means a change order, which can add time and money. This type of contract works best when the scope is well-defined and both sides agree on the deli…