diff --git a/controller/src/command.rs b/controller/src/command.rs
index 85fa7f3..baa5828 100644
--- a/controller/src/command.rs
+++ b/controller/src/command.rs
@@ -1692,12 +1692,12 @@ pub struct ContractNewArgs {
 	pub minimum_confirmations: u64,
 	/// Blocks until wallets should stop signing the contract
 	pub ttl_blocks: Option<u64>,
+	/// Fee rate in nanogrin per unit of transaction weight
+	pub fee_rate: Option<u32>,
 	/// Select and lock outputs early
 	pub add_outputs: bool,
 
 	// Future features
-	/// Custom fee contribution
-	pub fee_rate: Option<u32>,
 	/// Save slatepack to a specific filename
 	pub outfile: Option<String>,
 }
@@ -1724,6 +1724,7 @@ impl ContractNewArgs {
 		Ok(ContractNewArgsAPI {
 			ttl_blocks: self.ttl_blocks,
 			setup_args: ContractSetupArgsAPI {
+				fee_rate: self.fee_rate,
 				src_acct_name: match self.src_acct_name.as_ref() {
 					Some(v) => Some(v.to_string()),
 					None => None,
@@ -1796,12 +1797,12 @@ pub struct ContractSetupArgs {
 	pub make_outputs: Option<Vec<u64>>,
 	/// Optional minimum number of confirmations required for an input
 	pub minimum_confirmations: Option<u64>,
+	/// Fee rate in nanogrin per unit of transaction weight
+	pub fee_rate: Option<u32>,
 
 	// Future features
 	/// Whether we should automatically sign a receive of any value
 	// pub auto_receive: Option<bool>,
-	/// Custom fee contribution
-	pub fee_rate: Option<u32>,
 	/// Save slatepack to a specific filename
 	pub outfile: Option<String>,
 	/// Add outputs
@@ -1830,6 +1831,7 @@ impl ContractSetupArgs {
 	fn to_api_args(&self) -> Result<ContractSetupArgsAPI, Error> {
 		let net_change = self.get_net_change()?;
 		Ok(ContractSetupArgsAPI {
+			fee_rate: self.fee_rate,
 			net_change: net_change,
 			add_outputs: self.add_outputs,
 			selection_args: OutputSelectionArgs {
@@ -2061,4 +2063,21 @@ mod contract_tests {
 				if message.contains("Unsupported Slatepack mode: 2")
 		));
 	}
+
+	#[test]
+	fn contract_sign_fee_rate() {
+		let args = ContractSetupArgs {
+			counterparty_addr: None,
+			receive: None,
+			send: None,
+			as_json: false,
+			use_inputs: None,
+			make_outputs: None,
+			minimum_confirmations: None,
+			fee_rate: Some(2),
+			outfile: None,
+			add_outputs: false,
+		};
+		assert_eq!(args.to_api_args().unwrap().fee_rate, Some(2));
+	}
 }
diff --git a/controller/tests/contract_self_spend.rs b/controller/tests/contract_self_spend.rs
index 74e18d4..b252073 100644
--- a/controller/tests/contract_self_spend.rs
+++ b/controller/tests/contract_self_spend.rs
@@ -124,6 +124,52 @@ fn contract_self_spend_tx_impl(test_dir: &'static str) -> Result<(), libwallet::
 	Ok(())
 }
 
+fn contract_fee_floor_impl(test_dir: &'static str) -> Result<(), libwallet::Error> {
+	let (wallets, _, stopper, _) = create_wallets(vec![vec![("default", 4)]], test_dir).unwrap();
+	let wallet = wallets[0].0.clone();
+	let mask = wallets[0].1.as_ref();
+
+	wallet::controller::owner_single_use(wallet, mask, PathBuf::from(test_dir), |api, m| {
+		let slate = api.contract_new(
+			m,
+			&ContractNewArgsAPI {
+				setup_args: ContractSetupArgsAPI {
+					selection_args: common::contract_selection_args(),
+					net_change: Some(0),
+					num_participants: 1,
+					fee_rate: Some(1),
+					..Default::default()
+				},
+				..Default::default()
+			},
+		)?;
+		let (_, txs) = api.retrieve_txs(m, false, None, Some(slate.id), None)?;
+		let (_, outputs) = api.retrieve_outputs(m, false, false, None)?;
+		let err = api
+			.contract_sign(m, &slate, &ContractSetupArgsAPI::default())
+			.unwrap_err();
+		assert!(matches!(
+			err,
+			libwallet::Error::Fee(ref message) if message.starts_with("Fee Dispute Error:")
+		));
+		let (_, current_txs) = api.retrieve_txs(m, false, None, Some(slate.id), None)?;
+		let (_, current_outputs) = api.retrieve_outputs(m, false, false, None)?;
+		assert_eq!(
+			serde_json::to_value(current_txs).unwrap(),
+			serde_json::to_value(txs).unwrap()
+		);
+		assert_eq!(
+			serde_json::to_value(current_outputs).unwrap(),
+			serde_json::to_value(outputs).unwrap()
+		);
+		Ok(())
+	})?;
+
+	stopper.store(false, Ordering::Relaxed);
+	thread::sleep(Duration::from_millis(200));
+	Ok(())
+}
+
 #[test]
 fn wallet_contract_self_spend_tx() -> Result<(), libwallet::Error> {
 	let test_dir = "test_output/contract_self_spend_tx";
@@ -132,3 +178,12 @@ fn wallet_contract_self_spend_tx() -> Result<(), libwallet::Error> {
 	clean_output_dir(test_dir);
 	Ok(())
 }
+
+#[test]
+fn contract_fee_floor() -> Result<(), libwallet::Error> {
+	let test_dir = "test_output/contract_fee_floor";
+	setup(test_dir);
+	contract_fee_floor_impl(test_dir)?;
+	clean_output_dir(test_dir);
+	Ok(())
+}
diff --git a/controller/tests/contract_srs.rs b/controller/tests/contract_srs.rs
index 171fa01..deafa93 100644
--- a/controller/tests/contract_srs.rs
+++ b/controller/tests/contract_srs.rs
@@ -70,6 +70,9 @@ fn contract_srs_tx_impl(test_dir: &'static str) -> Result<(), libwallet::Error>
 	let recv_wallet = wallets[1].0.clone();
 	let recv_mask = wallets[1].1.as_ref();
 	let participant_fee = my_fee_contribution(1, 1, 1, 2)?.fee();
+	let receiver_rate = 2 * u32::try_from(grin_core::global::get_accept_fee_base()).unwrap();
+	let receiver_fee = Transaction::weight_by_iok(1, 1, 0) * u64::from(receiver_rate)
+		+ (Transaction::weight_by_iok(0, 0, 1) * u64::from(receiver_rate)).div_ceil(2);
 	let ttl_cutoff = bh + 20;
 	let ttl_error = format!(
 		"Contract TTL changed from {} to {}",
@@ -111,6 +114,15 @@ fn contract_srs_tx_impl(test_dir: &'static str) -> Result<(), libwallet::Error>
 					if msg == "Contract TTL must be at least 1 block"
 			));
 			args.ttl_blocks = Some(20);
+			args.setup_args.fee_rate = Some(0);
+			let err = api.contract_new(m, &mut args).unwrap_err();
+			assert!(matches!(
+				err,
+				libwallet::Error::GenericError(ref msg)
+					if msg == "Contract fee rate must be at least 1"
+			));
+			args.setup_args.fee_rate = None;
+			assert_eq!(common::wallet_progress(api, m)?, progress);
 			slate = api.contract_new(m, &mut args)?;
 			let (_, txs) = api.retrieve_txs(m, false, None, Some(slate.id), None)?;
 			assert_eq!(txs[0].ttl_cutoff_height, Some(ttl_cutoff));
@@ -253,6 +265,7 @@ fn contract_srs_tx_impl(test_dir: &'static str) -> Result<(), libwallet::Error>
 	let args = ContractSetupArgsAPI {
 		selection_args: common::contract_selection_args(),
 		net_change: Some(5_000_000_000),
+		fee_rate: Some(receiver_rate),
 		..Default::default()
 	};
 	let incoming = slate.clone();
@@ -325,7 +338,7 @@ fn contract_srs_tx_impl(test_dir: &'static str) -> Result<(), libwallet::Error>
 		&slate,
 		common::ExpectedContractSlate {
 			amount: 5_000_000_000,
-			fee: 2 * participant_fee,
+			fee: participant_fee + receiver_fee,
 			inputs: 1,
 			coinbase_inputs: 1,
 			outputs: 1,
@@ -342,10 +355,10 @@ fn contract_srs_tx_impl(test_dir: &'static str) -> Result<(), libwallet::Error>
 		|api, m| {
 			let view = api.contract_view(m, &slate)?;
 			assert_eq!(view.own_commitment_status, OwnCommitmentStatus::Clean);
-			assert_eq!(view.own_fee, Some(participant_fee));
+			assert_eq!(view.own_fee, Some(receiver_fee));
 			assert_eq!(
 				view.balance_change,
-				Some(5_000_000_000 - participant_fee as i64)
+				Some(5_000_000_000 - receiver_fee as i64)
 			);
 			Ok(())
 		},
@@ -545,7 +558,7 @@ fn contract_srs_tx_impl(test_dir: &'static str) -> Result<(), libwallet::Error>
 		&slate,
 		common::ExpectedContractSlate {
 			amount: 5_000_000_000,
-			fee: 2 * participant_fee,
+			fee: participant_fee + receiver_fee,
 			inputs: 2,
 			coinbase_inputs: 2,
 			outputs: 2,
@@ -623,11 +636,10 @@ fn contract_srs_tx_impl(test_dir: &'static str) -> Result<(), libwallet::Error>
 			assert_eq!(tx_log.amount_debited, 0);
 			assert_eq!(tx_log.num_inputs, 1);
 			assert_eq!(tx_log.num_outputs, 1);
-			let expected_fees_paid = Some(my_fee_contribution(1, 1, 1, 2)?);
-			assert_eq!(tx_log.fee, expected_fees_paid);
+			assert_eq!(tx_log.fee.map(|fee| fee.fee()), Some(receiver_fee));
 			assert_eq!(
 				wallet_info.amount_currently_spendable,
-				4 * 60_000_000_000 + 5_000_000_000 - expected_fees_paid.unwrap().fee() // we expect the balance of 4 mined blocks + 5 Grin - fees paid
+				4 * 60_000_000_000 + 5_000_000_000 - receiver_fee // we expect the balance of 4 mined blocks + 5 Grin - fees paid
 			);
 			Ok(())
 		},
diff --git a/doc/contracts.md b/doc/contracts.md
index 2b85ecc..8f3a864 100644
--- a/doc/contracts.md
+++ b/doc/contracts.md
@@ -41,6 +41,11 @@ so a late-locked contract can fail if another transaction spends the available o
 `contract new --ttl_blocks N` stops contract signing after `N` blocks. Finalized transactions
 can still be posted afterward.
 
+`--fee_rate N` uses `N` nanogrin per weight unit for this wallet's fee contribution. Each
+wallet chooses its rate when it first joins. Without it, the wallet uses `accept_fee_base`
+(500000 by default). The wallet only finalizes when the combined fee meets that minimum. If it
+does not, revoke the contract and create a new one.
+
 Each side's account is fixed when it first joins the contract. Changing the active account
 later does not affect setup or signing; they use the account stored in the context.
 
@@ -72,7 +77,6 @@ account selected with `--account`.
   the API. Only invoice proofs are supported and they require the experimental Slate V5
   format. The full proposal is described in
   [Early Payment Proofs](https://github.com/mimblewimble/grin-rfcs/pull/70)
-* Custom fee rates are not supported
 * There are no contract-specific history, lookup or transport commands. Payment proof
   memos cannot be set through the contract API or CLI. The current proof stores a memo
   type and 32 bytes instead of the text and hash described by the early payment proofs
diff --git a/libwallet/src/contract/actions/README.md b/libwallet/src/contract/actions/README.md
index 7c33acf..4497392 100644
--- a/libwallet/src/contract/actions/README.md
+++ b/libwallet/src/contract/actions/README.md
@@ -41,7 +41,6 @@ Separating side effects until the 'save_step' part would make these functions mu
    clearer to callers.
  - For a payjoin, `--use-inputs any` picks an input for us; naming the commitment would be
    clearer, for the API as much as the CLI.
- - Add custom contract fee rates.
  - Support `--outfile` for contract slatepacks.
  - Raise the replacement fee when `revoke` races a transaction already in the mempool.
  - Merge invoice-proof retrieval with the existing payment-proof API.
diff --git a/libwallet/src/contract/actions/new.rs b/libwallet/src/contract/actions/new.rs
index 194cd93..37cfbfb 100644
--- a/libwallet/src/contract/actions/new.rs
+++ b/libwallet/src/contract/actions/new.rs
@@ -40,6 +40,7 @@ where
 	K: Keychain,
 {
 	contract::utils::verify_num_participants(setup_args.num_participants)?;
+	contract::utils::verify_fee_rate(setup_args.fee_rate)?;
 	// Compute state for 'new'
 	let (slate, context) = compute(w, keychain_mask, setup_args, ttl_blocks, slate_id)?;
 
diff --git a/libwallet/src/contract/actions/revoke.rs b/libwallet/src/contract/actions/revoke.rs
index 3c59c8d..78e2543 100644
--- a/libwallet/src/contract/actions/revoke.rs
+++ b/libwallet/src/contract/actions/revoke.rs
@@ -129,6 +129,7 @@ where
 			src_acct_name: src_acct_name.clone(),
 			net_change: Some(0), // self-spend
 			num_participants: 1,
+			fee_rate: None,
 			add_outputs: false,
 			selection_args: OutputSelectionArgs {
 				// Keep revoke at one confirmation
@@ -149,6 +150,7 @@ where
 			src_acct_name,
 			net_change: None, // we already have it in the context as 0 now
 			num_participants: 1,
+			fee_rate: None,
 			add_outputs: false,
 			selection_args: OutputSelectionArgs {
 				minimum_confirmations: Some(1),
diff --git a/libwallet/src/contract/actions/setup.rs b/libwallet/src/contract/actions/setup.rs
index 085bae8..421bf03 100644
--- a/libwallet/src/contract/actions/setup.rs
+++ b/libwallet/src/contract/actions/setup.rs
@@ -48,6 +48,7 @@ where
 	K: Keychain,
 {
 	contract::utils::verify_num_participants(slate.num_participants)?;
+	contract::utils::verify_fee_rate(setup_args.fee_rate)?;
 	if slate.num_participants != setup_args.num_participants {
 		return Err(Error::GenericError(format!(
 			"Inconsistent num_participants. Slate num_participants:{}, Setup num_participants: {}",
diff --git a/libwallet/src/contract/actions/sign.rs b/libwallet/src/contract/actions/sign.rs
index 2620d0b..c2bbc38 100644
--- a/libwallet/src/contract/actions/sign.rs
+++ b/libwallet/src/contract/actions/sign.rs
@@ -59,6 +59,7 @@ where
 	K: Keychain,
 {
 	contract::utils::verify_num_participants(slate.num_participants)?;
+	contract::utils::verify_fee_rate(setup_args.fee_rate)?;
 	// Compute if we will add outputs at this step. Only a missing context means we
 	// still need to add them; propagate any other error.
 	let existing_context = match w.get_private_context(keychain_mask, slate.id.as_bytes()) {
diff --git a/libwallet/src/contract/context.rs b/libwallet/src/contract/context.rs
index c8e6a28..b93ed8a 100644
--- a/libwallet/src/contract/context.rs
+++ b/libwallet/src/contract/context.rs
@@ -80,6 +80,7 @@ where
 {
 	debug!("Creating a new contract context");
 	contract_utils::verify_num_participants(setup_args.num_participants)?;
+	contract_utils::verify_fee_rate(setup_args.fee_rate)?;
 	// sender should always refresh outputs
 	updater::refresh_outputs(w, keychain_mask, parent_key_id, false)?;
 
diff --git a/libwallet/src/contract/selection.rs b/libwallet/src/contract/selection.rs
index ec9dbee..688fc78 100644
--- a/libwallet/src/contract/selection.rs
+++ b/libwallet/src/contract/selection.rs
@@ -16,7 +16,7 @@
 
 use crate::backend::WalletBackend;
 use crate::contract::types::{ContractSetupArgsAPI, OutputSelectionArgs};
-use crate::contract::utils::my_fee_contribution;
+use crate::contract::utils::fee_contribution;
 use crate::grin_core::core::amount_to_hr_string;
 use crate::grin_keychain::{Identifier, Keychain};
 use crate::types::NodeClient;
@@ -130,11 +130,12 @@ where
 	if !is_self_spend && (pay_amount == 0 && !is_payjoin) {
 		return Ok((
 			vec![],
-			my_fee_contribution(
+			fee_contribution(
 				0,
 				setup_args.selection_args.num_custom_outputs() + 1,
 				1,
 				setup_args.num_participants,
+				setup_args.fee_rate,
 			)?,
 		));
 	}
@@ -179,7 +180,7 @@ where
 		committed_fee.unwrap()
 	} else {
 		// We start with a fee of 1 output and a shared kernel which is minimum for both parties
-		my_fee_contribution(0, 1, 1, setup_args.num_participants)?
+		fee_contribution(0, 1, 1, setup_args.num_participants, setup_args.fee_rate)?
 		// FeeFields::zero()
 	};
 
@@ -191,11 +192,21 @@ where
 		let must_take =
 			out.commit.is_some() && must_use_list.contains(&&out.commit.as_ref().unwrap()[..]);
 		// Compute the fee without this input
-		let fee_without =
-			my_fee_contribution(n_inputs, my_num_outputs, 1, setup_args.num_participants)?;
+		let fee_without = fee_contribution(
+			n_inputs,
+			my_num_outputs,
+			1,
+			setup_args.num_participants,
+			setup_args.fee_rate,
+		)?;
 		// Compute the total fee cost if we took this input
-		let mut fee_with =
-			my_fee_contribution(n_inputs + 1, my_num_outputs, 1, setup_args.num_participants)?;
+		let mut fee_with = fee_contribution(
+			n_inputs + 1,
+			my_num_outputs,
+			1,
+			setup_args.num_participants,
+			setup_args.fee_rate,
+		)?;
 		// If the current fee is lower than the committed fee (my_fee) then set it to committed fee
 		if my_fee.fee() > fee_with.fee() {
 			fee_with = my_fee;
@@ -370,6 +381,7 @@ pub fn verify_selection_consistency(
 mod tests {
 
 	use super::*;
+	use crate::contract::utils::my_fee_contribution;
 	use crate::grin_keychain::{Identifier, IDENTIFIER_SIZE};
 	use crate::OutputStatus;
 
@@ -537,6 +549,20 @@ mod tests {
 		);
 	}
 
+	#[test]
+	fn custom_fee_rate() {
+		let setup_args = ContractSetupArgsAPI {
+			net_change: Some(-3_000_000_000),
+			fee_rate: Some(2),
+			..Default::default()
+		};
+		let mut inputs = _create_output_data_for(vec![4_000_000_000]);
+		let (_, outputs, fee) = compute(&setup_args, None, &mut inputs).unwrap();
+		let expected = fee_contribution(1, 1, 1, 2, Some(2)).unwrap();
+		assert_eq!(fee, expected);
+		assert_eq!(outputs, vec![1_000_000_000 - expected.fee()]);
+	}
+
 	#[test]
 	fn sender_exact() {
 		// net_change=-3, inputs=[3, my_fees(2, 1)], no fee committed => Ok([3, my_fees(2, 1)], fees)
diff --git a/libwallet/src/contract/types.rs b/libwallet/src/contract/types.rs
index 74a3777..ad7559b 100644
--- a/libwallet/src/contract/types.rs
+++ b/libwallet/src/contract/types.rs
@@ -127,6 +127,10 @@ pub struct ContractSetupArgsAPI {
 	pub net_change: Option<i64>,
 	/// The number of participants in a contract. Used for computing our kernel fee contribution
 	pub num_participants: u8,
+	/// Fee rate in nanogrin per unit of transaction weight
+	/// `None` uses the wallet default. The rate is fixed when the local context is created
+	/// and may be omitted in later steps
+	pub fee_rate: Option<u32>,
 	/// Should we perform an early lock of outputs
 	pub add_outputs: bool,
 	/// Output selection arguments
@@ -141,6 +145,7 @@ impl Default for ContractSetupArgsAPI {
 			src_acct_name: None,
 			net_change: None,
 			num_participants: 2,
+			fee_rate: None,
 			add_outputs: false,
 			selection_args: OutputSelectionArgs {
 				..Default::default()
@@ -169,6 +174,7 @@ impl Default for ContractNewArgsAPI {
 				src_acct_name: None,
 				net_change: None,
 				num_participants: 2,
+				fee_rate: None,
 				add_outputs: false,
 				selection_args: OutputSelectionArgs {
 					..Default::default()
@@ -295,6 +301,25 @@ mod tests {
 		);
 	}
 
+	#[test]
+	fn fee_rate_json() {
+		let mut json = serde_json::to_value(ContractSetupArgsAPI::default()).unwrap();
+		json["fee_rate"] = serde_json::json!(2);
+		assert_eq!(
+			serde_json::from_value::<ContractSetupArgsAPI>(json.clone())
+				.unwrap()
+				.fee_rate,
+			Some(2)
+		);
+		json.as_object_mut().unwrap().remove("fee_rate");
+		assert_eq!(
+			serde_json::from_value::<ContractSetupArgsAPI>(json)
+				.unwrap()
+				.fee_rate,
+			None
+		);
+	}
+
 	#[test]
 	fn own_commitment_status_json() {
 		for (status, value) in [
diff --git a/libwallet/src/contract/utils.rs b/libwallet/src/contract/utils.rs
index a089bbc..9bdfbca 100644
--- a/libwallet/src/contract/utils.rs
+++ b/libwallet/src/contract/utils.rs
@@ -24,7 +24,7 @@ use crate::slate::Slate;
 use crate::types::{Context, NodeClient, StoredProofInfo, TxLogEntryType};
 use crate::util::OnionV3Address;
 use crate::{address, Error, OutputData, OutputStatus, TxLogEntry};
-use grin_core::core::FeeFields;
+use grin_core::core::{FeeFields, Transaction};
 use uuid::Uuid;
 
 /// Creates an initial TxLogEntry without input/output or kernel information
@@ -345,16 +345,35 @@ pub fn my_fee_contribution(
 	n_outputs: usize,
 	n_kernels: usize,
 	num_participants: u8,
+) -> Result<FeeFields, Error> {
+	fee_contribution(n_inputs, n_outputs, n_kernels, num_participants, None)
+}
+
+pub(super) fn fee_contribution(
+	n_inputs: usize,
+	n_outputs: usize,
+	n_kernels: usize,
+	num_participants: u8,
+	fee_rate: Option<u32>,
 ) -> Result<FeeFields, Error> {
 	verify_num_participants(num_participants)?;
+	verify_fee_rate(fee_rate)?;
+	let fee_for = |inputs: usize, outputs: usize, kernels: usize| match fee_rate {
+		Some(rate) => Transaction::weight_by_iok(inputs as u64, outputs as u64, kernels as u64)
+			.checked_mul(u64::from(rate))
+			.ok_or_else(|| Error::GenericError("Contract fee overflow".to_string())),
+		None => Ok(tx_fee(inputs, outputs, kernels)),
+	};
 	// Add our fee costs for our inputs and a single output
-	let mut fee = tx_fee(n_inputs, n_outputs, 0);
+	let mut fee = fee_for(n_inputs, n_outputs, 0)?;
 	// Add out fee costs for kernel. We pay 1/num_participants of a kernel cost
-	let kernel_cost = tx_fee(0, 0, n_kernels);
+	let kernel_cost = fee_for(0, 0, n_kernels)?;
 	// Round each participant's kernel share up, so the participants together never underpay;
 	// the overpay is bounded to under one fee unit per participant.
-	let my_kernel_cost = (kernel_cost as f64 / (num_participants as f64)).ceil();
-	fee += my_kernel_cost as u64;
+	let my_kernel_cost = kernel_cost.div_ceil(u64::from(num_participants));
+	fee = fee
+		.checked_add(my_kernel_cost)
+		.ok_or_else(|| Error::GenericError("Contract fee overflow".to_string()))?;
 
 	// Add my fee contribution to the slate total fee. Uses the standard FeeFields
 	// encoding; contracts rely on every participant applying the same
@@ -375,6 +394,15 @@ pub(super) fn verify_num_participants(num_participants: u8) -> Result<(), Error>
 	Ok(())
 }
 
+pub(super) fn verify_fee_rate(fee_rate: Option<u32>) -> Result<(), Error> {
+	if fee_rate == Some(0) {
+		return Err(Error::GenericError(
+			"Contract fee rate must be at least 1".to_string(),
+		));
+	}
+	Ok(())
+}
+
 /// Ensure the slate still carries the stored contract deadline
 pub(super) fn verify_ttl(expected: Option<u64>, slate: &Slate) -> Result<(), Error> {
 	let expected = expected.unwrap_or(0);
@@ -436,6 +464,18 @@ pub fn verify_setup_args_consistency(
 			ctx_setup_args.num_participants, cur_setup_args.num_participants
 		)));
 	}
+	if let Some(fee_rate) = cur_setup_args.fee_rate {
+		if Some(fee_rate) != ctx_setup_args.fee_rate {
+			let setup = ctx_setup_args
+				.fee_rate
+				.map(|rate| rate.to_string())
+				.unwrap_or_else(|| "default".to_string());
+			return Err(Error::GenericError(format!(
+				"Can't change fee rate after contract setup. setup:{}, current:{}",
+				setup, fee_rate
+			)));
+		}
+	}
 	// add_outputs is intentionally forced true at the sign step (late lock), so it is not
 	// part of this consistency check. parent_key_id is taken from the stored Context, so
 	// later steps always derive under the contract's account regardless of the active one.
@@ -489,12 +529,54 @@ mod tests {
 		let half = my_fee_contribution(n_inputs, n_outputs, n_kernels, 2)
 			.unwrap()
 			.fee();
-		let my_share = ((kernel_cost as f64) / 2.0).ceil() as u64;
+		let my_share = kernel_cost.div_ceil(2);
 		assert_eq!(half, base + my_share);
 		// ... and applying the same split, the participants together cover the kernel cost.
 		assert!(2 * my_share >= kernel_cost);
 	}
 
+	#[test]
+	fn custom_fee_rate() {
+		let rate = 2;
+		let fee = fee_contribution(1, 1, 1, 2, Some(rate)).unwrap();
+		let base = Transaction::weight_by_iok(1, 1, 0) * u64::from(rate);
+		let kernel = Transaction::weight_by_iok(0, 0, 1) * u64::from(rate);
+		assert_eq!(fee.fee(), base + kernel.div_ceil(2));
+		assert!(fee_contribution(1, 1, 1, 2, Some(0)).is_err());
+	}
+
+	#[test]
+	fn fee_rate_consistency() {
+		let setup = ContractSetupArgsAPI {
+			net_change: Some(-1),
+			fee_rate: Some(2),
+			..Default::default()
+		};
+		assert!(verify_setup_args_consistency(&setup, &setup).is_ok());
+		assert!(verify_setup_args_consistency(
+			&setup,
+			&ContractSetupArgsAPI {
+				net_change: Some(-1),
+				..Default::default()
+			}
+		)
+		.is_ok());
+		let err = verify_setup_args_consistency(
+			&setup,
+			&ContractSetupArgsAPI {
+				net_change: Some(-1),
+				fee_rate: Some(3),
+				..Default::default()
+			},
+		)
+		.unwrap_err();
+		assert!(matches!(
+			err,
+			Error::GenericError(ref msg)
+				if msg == "Can't change fee rate after contract setup. setup:2, current:3"
+		));
+	}
+
 	#[test]
 	fn participant_count() {
 		assert!(verify_num_participants(1).is_ok());
diff --git a/src/bin/grin-wallet.yml b/src/bin/grin-wallet.yml
index 3623814..f54cd9a 100644
--- a/src/bin/grin-wallet.yml
+++ b/src/bin/grin-wallet.yml
@@ -503,6 +503,10 @@ subcommands:
                     long: min_conf
                     default_value: "10"
                     takes_value: true
+                - fee_rate:
+                    help: Fee rate in nanogrin per unit of transaction weight (defaults to accept_fee_base)
+                    long: fee_rate
+                    takes_value: true
                 - ttl_blocks:
                     help: Positive number of blocks until wallets stop signing the contract
                     short: b
@@ -551,6 +555,10 @@ subcommands:
                     short: c
                     long: min_conf
                     takes_value: true
+                - fee_rate:
+                    help: Fee rate to use when first joining, in nanogrin per unit of transaction weight (defaults to accept_fee_base)
+                    long: fee_rate
+                    takes_value: true
                 - no-broadcast:
                     help: Don't broadcast the transaction if it was finalized
                     long: no-broadcast
diff --git a/src/cmd/wallet_args.rs b/src/cmd/wallet_args.rs
index 6644e8c..7ae4c46 100644
--- a/src/cmd/wallet_args.rs
+++ b/src/cmd/wallet_args.rs
@@ -1001,6 +1001,21 @@ pub fn parse_verify_proof_args(args: &ArgMatches) -> Result<command::ProofVerify
 	})
 }
 
+fn parse_contract_fee_rate(args: &ArgMatches) -> Result<Option<u32>, ParseError> {
+	let Some(value) = args.value_of("fee_rate") else {
+		return Ok(None);
+	};
+	let rate = parse_u64(value, "fee_rate")?;
+	if rate == 0 {
+		return Err(ParseError::ArgumentError(
+			"Contract fee rate must be at least 1".to_string(),
+		));
+	}
+	u32::try_from(rate)
+		.map(Some)
+		.map_err(|_| ParseError::ArgumentError("Contract fee rate is too large".to_string()))
+}
+
 pub fn parse_contract_new_args(
 	args: &ArgMatches,
 	account: &String,
@@ -1032,6 +1047,7 @@ pub fn parse_contract_new_args(
 		parse_required(args, "minimum_confirmations")?,
 		"minimum_confirmations",
 	)?;
+	let fee_rate = parse_contract_fee_rate(args)?;
 	let ttl_blocks = match args.value_of("ttl_blocks") {
 		Some(value) => {
 			let blocks = parse_u64(value, "ttl_blocks")?;
@@ -1099,9 +1115,9 @@ pub fn parse_contract_new_args(
 		use_inputs: use_inputs,
 		make_outputs: make_outputs,
 		minimum_confirmations,
+		fee_rate,
 		ttl_blocks,
 		// Not yet wired to CLI flags:
-		fee_rate: None,
 		outfile: None,
 	})
 }
@@ -1132,6 +1148,7 @@ pub fn parse_contract_setup_args(
 		Some(value) => Some(parse_u64(value, "minimum_confirmations")?),
 		None => None,
 	};
+	let fee_rate = parse_contract_fee_rate(args)?;
 	let no_payjoin = args.is_present("no-payjoin");
 	let use_inputs = match args.value_of("use-inputs") {
 		Some(v) => {
@@ -1174,8 +1191,8 @@ pub fn parse_contract_setup_args(
 		use_inputs: use_inputs,
 		make_outputs: make_outputs,
 		minimum_confirmations,
+		fee_rate,
 		// Not yet wired to CLI flags:
-		fee_rate: None,
 		outfile: None,
 	})
 }
diff --git a/tests/cmd_line_contract.rs b/tests/cmd_line_contract.rs
index 586e05c..5fbcf82 100644
--- a/tests/cmd_line_contract.rs
+++ b/tests/cmd_line_contract.rs
@@ -26,6 +26,7 @@ use clap::App;
 use std::thread;
 use std::time::Duration;
 
+use grin_core::core::Transaction;
 use grin_keychain::ExtKeychain;
 use grin_wallet_impls::DefaultLCProvider;
 
@@ -102,6 +103,10 @@ fn contract_command_test_impl(test_dir: &str) -> Result<(), grin_wallet_controll
 	let mask1 = (&mask1_i).as_ref();
 	let mask2 = (&mask2_i).as_ref();
 	let _ = test_framework::award_blocks_to_wallet(&chain, wallet1.clone(), mask1, 5, false);
+	let fee_rate = 2 * grin_core::global::get_accept_fee_base();
+	let expected_fee = Transaction::weight_by_iok(1, 1, 0) * fee_rate
+		+ (Transaction::weight_by_iok(0, 0, 1) * fee_rate).div_ceil(2);
+	let fee_rate = fee_rate.to_string();
 
 	// Wallet 1 opens a contract sending 1 grin, leaving an unencrypted slatepack because
 	// no --encrypt-for was given
@@ -115,11 +120,24 @@ fn contract_command_test_impl(test_dir: &str) -> Result<(), grin_wallet_controll
 		"1",
 		"--min_conf",
 		"1",
+		"--fee_rate",
+		&fee_rate,
 	];
 	execute_command(&app, test_dir, "wallet1", &client1, arg_vec)?;
 
 	// Wallet 2 views the contract before signing it
 	let file_name = only_slatepack(test_dir, "wallet1");
+	grin_wallet_controller::controller::owner_single_use(
+		wallet1.clone(),
+		mask1,
+		std::path::PathBuf::from(test_dir),
+		|api, m| {
+			let message = std::fs::read_to_string(&file_name)?;
+			let slate = api.slate_from_slatepack_message(m, message, vec![0])?;
+			assert_eq!(slate.fee_fields.fee(), expected_fee);
+			Ok(())
+		},
+	)?;
 	let arg_vec = vec![
 		"grin-wallet",
 		"-p",
@@ -262,6 +280,8 @@ fn parses_contract_options() {
 			"1",
 			"--min_conf",
 			"3",
+			"--fee_rate",
+			"2",
 			"--ttl_blocks",
 			"20",
 		])
@@ -271,6 +291,7 @@ fn parses_contract_options() {
 	let parsed =
 		grin_wallet::cmd::wallet_args::parse_contract_new_args(new_args, &account).unwrap();
 	assert_eq!(parsed.minimum_confirmations, 3);
+	assert_eq!(parsed.fee_rate, Some(2));
 	assert_eq!(parsed.ttl_blocks, Some(20));
 
 	let expected = grin_wallet_libwallet::contract::types::DEFAULT_MINIMUM_CONFIRMATIONS;
@@ -283,6 +304,7 @@ fn parses_contract_options() {
 	let parsed =
 		grin_wallet::cmd::wallet_args::parse_contract_new_args(new_args, &account).unwrap();
 	assert_eq!(parsed.minimum_confirmations, expected);
+	assert_eq!(parsed.fee_rate, None);
 	assert_eq!(parsed.ttl_blocks, None);
 	let args = app
 		.clone()
@@ -300,6 +322,35 @@ fn parses_contract_options() {
 			"Contract TTL must be at least 1 block".to_string()
 		)
 	);
+	for (rate, message) in [
+		("0", "Contract fee rate must be at least 1"),
+		("4294967296", "Contract fee rate is too large"),
+	] {
+		let args = app
+			.clone()
+			.get_matches_from_safe(vec![
+				"grin-wallet",
+				"contract",
+				"new",
+				"-s",
+				"1",
+				"--fee_rate",
+				rate,
+			])
+			.unwrap();
+		let new_args = args
+			.subcommand_matches("contract")
+			.unwrap()
+			.subcommand_matches("new")
+			.unwrap();
+		let err = grin_wallet::cmd::wallet_args::parse_contract_new_args(new_args, &account)
+			.err()
+			.expect("invalid contract fee rate accepted");
+		assert_eq!(
+			err,
+			grin_wallet::cmd::wallet_args::ParseError::ArgumentError(message.to_string())
+		);
+	}
 
 	let args = app
 		.clone()
@@ -309,14 +360,24 @@ fn parses_contract_options() {
 	let sign_args = contract.subcommand_matches("sign").unwrap();
 	let parsed = grin_wallet::cmd::wallet_args::parse_contract_setup_args(sign_args).unwrap();
 	assert_eq!(parsed.minimum_confirmations, None);
+	assert_eq!(parsed.fee_rate, None);
 
 	let args = app
-		.get_matches_from_safe(vec!["grin-wallet", "contract", "sign", "--min_conf", "3"])
+		.get_matches_from_safe(vec![
+			"grin-wallet",
+			"contract",
+			"sign",
+			"--min_conf",
+			"3",
+			"--fee_rate",
+			"2",
+		])
 		.unwrap();
 	let contract = args.subcommand_matches("contract").unwrap();
 	let sign_args = contract.subcommand_matches("sign").unwrap();
 	let parsed = grin_wallet::cmd::wallet_args::parse_contract_setup_args(sign_args).unwrap();
 	assert_eq!(parsed.minimum_confirmations, Some(3));
+	assert_eq!(parsed.fee_rate, Some(2));
 }
 
 #[test]