You envision your web project and work together with the team on estimating the amount of time and money that are to be spent according to the project requirements. Given all requirements are strictly defined, the estimation is accurate.
As all project requirements are clearly defined, a web development team does the work for you without you. In such a workflow, expectations are predictable and management is easy and transparent, giving you time to focus on promoting and scaling your business.
In the fixed-price contract, the payments are based on a percentage of work performed. Due to the regular project management interaction with the service provider, margins are protected and the project is delivered within that budget.