A fixed price means the project cost is agreed before work starts and doesn't change as the project progresses. You know the total before anything begins, so the invoice never comes as a surprise.
Also known as: Flat rate, One-off price
An estimate is a rough range that can still change. A fixed price is an agreed sum: once the quote is accepted, the price doesn't rise even if the work takes longer than planned. The risk sits with the person doing the work, not the client.
A fixed price covers the agreed scope. If new pages or features get added mid-project, they're priced separately and quoted upfront, never billed as a surprise later.
Written by Eetu Huotari