Applicability
TrueBit recommends its "fixed-price" pricing model for an application/service that is either new or fully defined/understood*, and requiring a small number of well-defined features or changes. For instance, developing a new MVP (Minimum Viable Product), or adding a few features or changes to an existing product already known to TrueBit. All work items are clearly spec'd and agreed to from the start, TrueBit progresses the development with limited client interaction, and the application/service is delivered and paid for in milestone stages. Any tech and equipment required to reach the milestone is costed within the milestone agreement: this will, however, be none for most software development.
The "fixed-price" model is often attractive because the time and costs are fixed upfront, the outcomes are defined, and you do not need to be involved with the everyday running of the project. It is like dropping your car off for its service: you pay a known/fixed price for a known/fixed amount of work. However, this model may not be the best choice for every project.
* For an existing application/service to be "fully defined/understood", TrueBit must either have (i) developed the latest version of that product, or (ii) performed sufficient analysis/auditing as a consultancy service (which follows our hourly pricing model).