Document background
This document serves as a standardized Flat Fee Contract template suitable for various professional services and business arrangements under Hong Kong law. It is particularly useful when parties wish to agree on a fixed price for a well-defined scope of work, providing cost certainty and reducing financial risks. The contract is designed to comply with Hong Kong's legal framework while incorporating best practices for fixed-fee arrangements. It includes essential elements such as detailed scope definition, clear payment terms, delivery milestones, and appropriate risk allocation between parties. This template is commonly used for project-based work, consulting services, or any situation where services can be clearly defined and priced upfront, offering both parties the security of a fixed-price arrangement while maintaining flexibility for well-defined scope adjustments.
