Can a CPIF contract have a contract ceiling price?
The term "price" is usually reserved for fixed-price contracts and time and materials contacts. For cost-reimbursement contracts, the "ceiling price" is actually the target cost. It's this target cost which the contractor cannot exceed (making it a "ceiling" in a way) without contracting officer approval. This is implemented with the clause at FAR 52.232-20--Limitation of Cost.
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