A negotiated agreement between a government agency and a contractor that establishes indirect cost rates to be used for pricing future contracts or contract modifications during a specified period. Forward Pricing Rate Agreements (FPRAs) typically cover rates such as overhead, general and administrative (G&A), and fringe benefits, reducing the need to negotiate these rates separately for each procurement. An FPRA promotes consistency, improves pricing efficiency, and provides greater predictability for both the contractor and the government. The Federal Acquisition Regulation (FAR) addresses FPRAs in FAR 15.407-3.
Forward Pricing Rate Agreement (FPRA)
A negotiated agreement fixing a contractor's indirect cost rates for pricing future contracts over a set period.
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Related Glossary Terms
The official compilation of permanent U.S. federal laws, providing the statutory basis for many contracting requirements.
A global classification system used to categorize products and services for procurement and spend analysis.
A unique 12-character identifier assigned via SAM.gov to organizations doing business with the federal government, replacing the DUNS number.
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