Fixed Price

The definition of a fixed price is a predetermined amount of money that is agreed upon by both parties in a transaction. This amount is usually agreed upon before the transaction takes place and is not subject to change. Fixed prices are commonly used in contracts and other business agreements, and they are typically set in order to ensure that both parties are aware of the cost of the transaction before it takes place. Fixed prices are beneficial for both parties, as they provide a sense of security and assurance that the cost of the transaction will not change. This helps to reduce the risk of financial loss for both parties, as the cost of the transaction is already known. Additionally, fixed prices can help to ensure that both parties are able to agree on a fair price for the transaction, as the cost is already predetermined.