Multiyear contract definition

Multiyear contract means a contract that extends beyond a one-year period, including a contract that permits renewal of the contract, without competition, beyond the first year of the contract.
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Multiyear contract means a contract that extends beyond a one-year period,
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Multiyear contract means a contract for the purchase of supplies or services for more than one, but not more than five, program years. A multiyear 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.”
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Examples of Multiyear contract in a sentence

  • Multi-year contract means a contract for the purchase of supplies or services for more than 1, but not more than 5, program years.

  • Multi-year contract procedures provide for the amortization of certain costs over the entire contract quantity resulting in identical (level) unit prices (except when the economic price adjustment terms apply) for all items or services under the multi-year contract.

  • In order to complete the treatment of stagnant water in the process main building and the high-temperature incinerator building, moreover, methods for radiation dose rate surveillance or recovery are under consideration for high-dose zeolite sandbags located on the lowest floor.

  • Any contract that provides for expenditures in excess of on million dollars ($l,000,000.00) in a twelve (12) month period or any contract which is a Multiyear contract shall not be binding or give rise to any claim or demand against the Hospital until approved by the Council of the District of Columbia and thereafter signed by the Contracting Officer.

  • Any contract that provides for expenditures in excess of a million dollars ($l,000,000.00) in a twelve (12) month period or any contract which is a Multiyear contract shall not be binding or give rise to any claim or demand against the Hospital until approved by the Council of the District of Columbia and thereafter signed by the Contracting Officer.

  • Multi-year contract including the requirements for each program year.(b) Criteria for comparing the lowest evaluated submission on the first program year requirements to the lowest evaluated submission on the multi-year requirements.(c) A provision that, if the Government determines before award that only the first program year requirements are needed, the Government’s evaluation of the price or estimated cost and fee shall consider only the firstyear.

  • Enter the cost of supplies.......................................................................................................20.

  • Multi-year contract terms are not permitted for projects placed on the potentially troubled list.The Potentially Troubled contract reduces the rents to market and requires the owner to submit monthly accounting reports.

  • Multiyear contracts.(a) Authority.(b) Termination clause.(c) Cancellation ceiling notice.(d) Multiyear contract defined.(e) Rule of construction.254d.

  • Multi-year contract means a contract for the purchase of supplies or services for more than one (1), but not more than five (5), fiscal years.


More Definitions of Multiyear contract

Multiyear contract means a contract for the purchase of supplies or services with a performance period of more than twelve months at the time of its initial execution. A contract with a performance period of twelve or fewer months with subsequent renewal options on the part of the state of no more than one year does not constitute a multiyear contract. Written approval by the procurement official or his or her designee is required prior to entering into a multiyear contract.
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Multiyear contract means a contract for the purchase of supplies or services for more than one, but not more than five, program years. A multiyear 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 multiyear contracts and multiple year contracts is that multiyear contracts buy more than one year’s requirement (of a product or service) without establishing and having to exercise an option for each program year after the first, whereas multiple year contracts have a term of more than one year regardless of fiscal year funding, as defined in FAR Subpart 22.10—Service Contract Act of 1965, as Amended.
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Multiyear contract means contracts for a term of more than one year,
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Multiyear contract means a contract that requires appropriations for more than 1 fiscal year.
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Related to Multiyear contract

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • framework contract means a payment service contract which governs the future execution of individual and successive payment transactions and which may contain the obligation and conditions for setting up a payment account;

  • Other Contract means any agreement entered into between the Contractor and the City that is (i) formed under the authority of MCC Ch. 2-92; (ii) for the purchase, sale or lease of real or personal property; or (iii) for materials, supplies, equipment or services which are approved and/or authorized by the City Council.

  • CFD Contract or "CFD" shall mean a contract which is a contract for difference by reference to fluctuations in the price of the relevant security or index;

  • Master Contract means the CATS Master Contract between the Maryland Department of Budget and Management andTO Contractor dated December 19, 2005.

  • Project Contract means a Project Contract as such term is defined in the RfP;

  • Sub-contracting means the primary contractor’s assigning or leasing or making out work to, or employing another person to support such primary contractor in the execution of part of a project in terms of the contract.

  • Charter contract or "contract" means a fixed-term, renewable contract

  • Public work contract means a contract for constructing, altering, or repairing a public building or carrying out or completing any pub- lic work. Gov’t Code 2253.001(4)

  • O&M Contract means the operation and maintenance contract that may be entered into between the Concessionaire and the O&M Contractor for performance of all or any of the O&M obligations;

  • Customer Contract means any written contract or agreement (other than trade contracts) between Seller and any of its customers (or under which Seller has rights) which has been entered into and signed by the parties thereto in connection with the publication of the Directories and corresponding provision of Directory Services.

  • Group contract means a contract for health care services which by its terms limits eligibility to members of a specified group. The group contract may include coverage for dependents.

  • Service Contract means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.

  • Major Subcontract means any Subcontract with a Subcontractor for those portions of the Work listed in Section 1.3 of Attachment G.

  • Smart contract means an event-driven program, with state, that runs on a distributed, decentralized, shared, and replicated ledger and which can take custody over and instruct transfer of assets on that ledger.

  • Term contract means contracts established by the chief procurement officer for specific supplies, services, or information technology for a specified time and for which it is mandatory that all governmental bodies procure their requirements during its term. As provided in the solicitation, if a public procurement unit is offered the same supplies, services, or information technology at a price that is at least ten percent less than the term contract price, it may purchase from the vendor offering the lower price after first offering the vendor holding the term contract the option to meet the lower price. The solicitation used to establish the term contract must specify contract terms applicable to a purchase from the vendor offering the lower price. If the vendor holding the term contract meets the lower price, then the governmental body shall purchase from the contract vendor. All decisions to purchase from the vendor offering the lower price must be documented by the procurement officer in sufficient detail to satisfy the requirements of an external audit. A term contract may be a multi‑term contract as provided in Section 11‑35‑2030.

  • Public contract means an agreement between a public body and a nongovernmental source that is

  • Prime Contract means the contract between LOCKHEED MARTIN and the U.S. Government or between LOCKHEED MARTIN and its higher-tier contractor who has a contract with the U.S. Government.