Definitions for "Fixed Rates"
Payment rates established by the contracting agency for carrying out specific construction or maintenance activities (e.g. three currency units per cubic metre of excavation).
A loan where the initial payments are based on a certain interest rate for a stated period and the rate payable will not change during that period regardless of changes in the lender's standard variable rate. There is usually a penalty if you pay off all or part of the loan during the fixed period.
With a fixed rate, your repayments are fixed for a predetermined period e.g. 1, 2, 3 or 5, 10 years.