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Hello, Namaste, Konnichiwa!! Welcome from Sunny Sensei!! In this lesson we will be talking about Cost Plus Incentive Fee contracts or CPIF. As in most contracts, this contract starts with estimates. Target cost is the estimated cost. Estimated sellers profit is the target profit. It is also called as target fee. Target fee is normally given as percentage of target cost. Adding these two gives us the estimate of price, the target price. If target cost is $100 and target fee is 10% of the target cost or $10. The target price is 100 plus 10, or $110. This contract also defines incentives. These are objective criteria to evaluate the sellers performance. This is similar to what we have in fixed price incentive fee contracts. If the criteria are met, seller gets an award, a positive incentive. If the criteria are not met, seller faces a penalty, a negative incentive. Award will increase sellers profit. The actual fee or profit will be more than the target fee. But, there cannot be indefi
