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What does Fixed-Price mean on UpWork?

Last updated on September 24, 2022 @ 9:27 pm

Fixed-Price contracting is a type of contract where both the contractor and the client agree to a set price for the work to be done, regardless of how much work is actually completed. This can be helpful for clients who want to know upfront what the total cost of the project will be, without having to worry about how much work is left to be done.

PRO TIP: When a job is posted as Fixed-Price, the client is agreeing to pay a set amount for the completion of that job. The freelancer is agreeing to complete the work for that price. Once the work is completed and approved by the client, the freelancer will be paid in full.

On the other hand, fixed-price contracts can be challenging for contractors who may feel incentivized to complete as much work as possible in order to earn a higher price. This can lead to rushed or incomplete work, which can lead to later problems down the road.

In the end, fixed-price contracts are a useful tool for both clients and contractors, but both parties should be aware of the risks involved before signing on the dotted line.

Morgan Bash

Morgan Bash

Technology enthusiast and Co-Founder of Women Coders SF.