Multi-year contract definition
Multi-year contract means a contract or other agreement operating in excess of 12 consecutive months.
Multi-year contract means a contract which (unless cancelled) operates in respect of successive underwriting years, and
Multi-year contract means a contract for the purchase of supplies or services for more than 1, but not more than 5, program years. A multi-year contract may provide that performance under the contract during the second and subsequent years of the contract is contingent upon the appropriation of funds, and (if it does so provide) may provide for a cancellation payment to be made to the contractor if appropriations are not made. The key distinguishing difference between multi-year contracts and multiple year contracts is that multi-year contracts, defined in the statutes cited at 17.101, buy more than 1 year’s requirement (of a product or service) without establishing and having to exercise an option for each program year after the first.
More Definitions of Multi-year contract
Multi-year contract means contracts for a term of more than one year,
Multi-year contract means a contract for a period of more than one year.
Multi-year contract means a Contract for Goods, Services or Construction which has a duration longer than one year;
Multi-year contract means a contract that requires appropriations for more than one fiscal year.
Multi-year contract means a contract for the purchase of goods, works, supplies or services for a period of more than one program year;
Multi-year contract means a contract which (unless cancelled) operates
Multi-year contract means a contract entered into for more than one year in accordance with the requirements of this chapter.