QuestionJune 4, 2025

What is a multiple year contract? Contract having a term of more than 1 year regardless of fiscal year funding (think contract with a base year &options) Contract for purchase of supply or services for more than 1 but not more than 5 program years

What is a multiple year contract? Contract having a term of more than 1 year regardless of fiscal year funding (think contract with a base year &options) Contract for purchase of supply or services for more than 1 but not more than 5 program years
What is a multiple year contract?
Contract having a term of more than 1 year regardless of fiscal year
funding (think contract with a base year &options)
Contract for purchase of supply or services for more than 1 but not
more than 5 program years

Solution
4.4(360 votes)

Answer

A multiple year contract is a contract for the purchase of supplies or services extending over more than one year, typically up to five program years. Explanation 1. Define Multiple Year Contract A multiple year contract is an agreement that extends over more than one year, typically involving a base period with options for additional years. 2. Identify Characteristics It often includes terms for purchasing supplies or services spanning more than one but not exceeding five program years.

Explanation

1. Define Multiple Year Contract<br /> A multiple year contract is an agreement that extends over more than one year, typically involving a base period with options for additional years.<br /><br />2. Identify Characteristics<br /> It often includes terms for purchasing supplies or services spanning more than one but not exceeding five program years.
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