Requirements contract definition

Requirements contract means a contract:

Split View

Requirements contract means a price agreement that constitutes a firm Offer by the Contractor, regardless of whether any order or purchase has been made or any performance has been tendered under the price agreement and is enforceable for the period stated in the price agreement and is not revocable by the Contractor. A price agreement does not constitute an exclusive dealing commitment on the part of the College or the Contractor unless the price agreement expressly so provides. (ORS 279B.140)

Requirements contract means a contract: (a) under which a contractor agrees to provide the District’s entire requirements for certain procurement items at prices specified in the contract during the contract period; and (b) that either does not require a minimum purchase amount or provides a maximum purchase limit.

Examples of Requirements contract in a sentence

• This contract type can provide Task Order issuing agencies with maximum flexibility when ordering IT services while obligating funds as needed only on individual calls as the bona fide need arises for predefined and established priced procurement requirements on awarded Requirements contract type Task Orders by individual CLINS and SubCLINS.

• A Requirements contract type approach satisfies the requirement for the issuance of a binding Task Order under Master Contract.

• A Requirements contract type in this Master Contract is one in which the Government (buyer) agrees to purchase all of its needs for a particular item or service during the Task Order period from the Contractor (seller), and the seller agrees to fill all of the buyer’s needs for the goods or services described in the Task Order.

• An IDIQ is also different from a Requirements contract type in the following: (1) A Requirements contract’s guaranteed minimums are not required; (2) The Task Order solicitation of a Requirements contract must state realistic estimated quantities, and (3) The buyer and seller are obligated to buy and sell on a Requirements at the prices negotiated at time of award.

• There are distinct structural differences between a Requirements contract and an IDIQ and distinct differences in the nature and legal effect of the different types of orders that are placed against these different contract vehicles.

More Definitions of Requirements contract

Requirements contract means a Contract in which the Contractor agrees to supply some or all of the County’s requirements that arise for item(s) or service within a specified time period.

Requirements contract means a contract which provides for filling all actual purchase requirements of designated Government activities for supplies or services during a specified contract period, with deliveries or performance to be scheduled with the contractor.

Requirements contract means an agreement in which the contractor agrees to supply to the County the specific goods or services identified in the agreement for a specific time period, based upon the quantity required or ordered by the County's during the time period.

Requirements contract means a form of indefinite delivery/indefinite quantity contract or agreement where the actual purchase requirements for specific supplies or services during the contract period are filled by the selected vendor(s) or other entity under an established pricing agreement.

Requirements contract means a contract with one or more Projects, each with its own scope of work as set forth in a Work Order issued for that Project by the Commissioner.

Requirements contract. This means you shall exclusively receive the Services from us. However, we have no obligation to process a Visa or MasterCard transaction beyond the authority of a U.S. member of Visa and MasterCard, or to process Discover or American Express transactions outside the United States. Xxxxxxxx agrees that Processor is Xxxxxxxx’s exclusive provider, at all of your locations, of the Services and any services that are the equivalent of the Services available from another provider, including any Services or their equivalents that relate to any Cardholder transactions originating at or with your Supplier that incorporates your goods and/or services. Prior to exercising any right of termination or non-renewal, you agree that we shall have a right of first refusal before you enter into an agreement with a third party for the Services. Except for term length, you agree that our right includes terms and conditions that are substantially similar to those discussed with the third party.

Requirements contract means a requirements contract between the Company and USAC, substantially in the form agreed upon by the Parties as of the date of this Agreement, with such changes as are mutually acceptable to the Parties.