The fixed amount contract is an agreement between two parties for any project that is undertaken at a fixed price or amount. Fixed amount contracts can be executed for various projects like construction, software services, audit and accounting, etc. The following is a sample fixed amount contract.

Sample fixed amount contract:

Date of agreement: 29th Sept 2009

XYZ Ltd. Will perform the following services for the ABC Co. Pvt. Ltd:

  • 2009 year end accounting adjustments
  • The following books will be prepared by XYZ Ltd:
    • Bank account reconciliation
    • Payroll tax expense and liabilities
    • Detailed analysis of work-in-process
    • 2009-2010 tax return form filing
    • Tax projections
    • Cash flow transactions

Price: ABC Co. Pvt. Ltd. agrees to pay $2,00,000 towards the services rendered to by XYZ Ltd. After withholding any tax that XYZ Ltd. is liable to pay to the federal government.

Other terms of agreement:

Both the parties agree to the following:

  • Unlimited phone support and e-mail communication to discuss operations of business matters, tax matters, and any other topic that is necessary to carry out the contract.
  • Timely advice from each other over the clock.
  • Any work that goes beyond the scope of the contract but is necessary to be carried out would be taken forward as per the mutual consent of both the parties after a thorough discussion has been conducted on it.

Signature of the vendee: ABC Co. Pvt. Ltd.

Address: 4309 S Mailstreet, Chicago, Illinois, 60609, United States

Date: 29th Sept 2009

Signature of the contractor: Richard Ruston

Address: 123 Park Avenue, Edison, New Jersey, 08817, United States

Date: 29th Sept 2009

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