3053. OPTIONS

3053 OPTIONS 3053.1 The CCO may include options in solicitations and contracts when it is in the University’s interests. 3053.2 The CCO shall ensure that the contracts with options specify the following, unless not appropriate to the needs of the University: (a) The contract shall specify limits on the purchase of additional materials, supplies or services, or the overall duration of the term of the contract, including any extension. (b) The contract shall state the period within which the option may be exercised. (c) The period shall be set so as to provide the contractor with adequate lead time to ensure continuous production. 3053.3 University contracts for the basic and option periods shall not exceed five (5) years in the case of services, and the total of the basic and option quantities shall not exceed the requirement for 5 years in the case of supplies. 3053.4 The CCO shall express options for increased quantities of materials, supplies, or services in terms of the following: (a) Percentage of specific line items; or (b) Increase in specific line items. SOURCE: Final Rulemaking published at 57 DCR 2630 (Mar. 2010).