Business, tax and funding
fixed price
In short and in plain language
A fixed price is a total price that you agree on first. It is for a set amount of work.
So the firm knows what the website will cost before the start.
Extra wishes beyond the agreed work are, as a rule, settled on their own.
Definition
A fixed price is a total price agreed in advance for a defined scope of work. The business knows before the project starts what the website will cost. Additional requests outside the agreed scope are usually arranged separately.