fee

  

Definitions (2)

1. Remuneration: In contracts based on cost reimbursement pricing, the 'fee' represents an amount beyond the initial cost estimates, and reflects factors such as the risks involved. Fee is usually subject to statutory limitations, and may be either fixed (as in a cost plus fixed fee contract) or allowed to vary within a specified range (as in a cost plus incentive fee contract).
2. Land law: Estate capable of being transferred. See also fee simple absolute in possession and fee tail.

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