Meaning of fee
For the Government, the term profit is used for Fixed-Price Contracts, while fee relates to Cost Type Contracts. In specified Cost Reimbursement pricing arrangements, fee represents an agreed-to amount beyond the initial Estimate of Costs. In most instances, fee reflects a variety of factors, including Risk, and is subject to statutory limitations. Fee may be fixed at the outset of performance, as in a Cost Plus Fixed Fee (CPFF) arrangement, or may vary (within a contractually specified minimummaximum range) during performance, as in a Cost Plus Incentive Fee arrangement.
Source: http://www.sceaonline.org/prof_dev/CEBoK-Glossary.xls
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