Types of Contracts in Procurement

Discuss the following types of contracts (250 words each)

• Firm-Fixed Price Contract (FFP) Contract
• Fixed-Price-Incentive-Fee Contract (FPIF) Contract
• Cost-Plus-Incentive-Fee Contract (CPIF) Contract
• Cost-Plus-Award-Fee (CPAF) Contract
• Cost-Plus-Fixed-Fee (CPFF) Contract