I was asked to give a fixed quote on a machine fault
machine was worth 200k
my quote.....200k
reasoning......could take ten miutes to,find fault and parts cost ten grand
could take a week,to find fault and parts cost 5p
worst case is it would cost no more than a new machine
they agreed to time and materials in the end.....prannocks
Been there done that!
Also had customers agree to labour & materials, then when it gets too much to change their mind & refuse to pay, even though they knew the rates in advance.