Fixed Fee [Food And Nutrition Service] Law and Legal Definition

According to 7 CFR 210.2 [Title 7—Agriculture; Subtitle B -- Regulations Of The Department Of Agriculture; Chapter II -- Food And Nutrition Service, Department Of Agriculture; Subchapter A -- Child Nutrition Programs - Part 210 -- National School Lunch Program; Subpart A – General], fixed fee means “an agreed upon amount that is fixed at the inception of the contract. In a cost reimbursable contract, the fixed fee includes the contractor's direct and indirect administrative costs and profit allocable to the contract.”