Common use of Fixed Fee Clause in Contracts

Fixed Fee. In addition to reimbursement for Contractor’s labor, other direct costs, and indirect costs, Mercy Corps will pay Contractor a fixed fee equal to [amount and type of currency]. This amount will be allocated as a percentage of costs incurred on a monthly basis with each invoice. Any remaining unrecovered fee will be reconciled at the end of the Contract. Should the total costs incurred under this Contract be substantially lower than the ceilings established above, Mercy Corps reserves the right to reassess the fee amount and renegotiate it to a lower amount with Contractor to avoid overpayment. Invoicing and Payment Terms: [Upon acceptance of each Services deliverable] [Within [X] days at the end of each month] [Upon completion of the Contract] Contractor will submit an Invoice in accordance with pricing as specified in the Contract. Mercy Corps will make payment to Contractor for all sums not in dispute within 30 days of receipt of Contractor’s invoice(s) (the “Payment Terms”).