105 IAC 12-4-6
105 IAC 12-4-6 Option to renew
Cite as Ind. Admin. Code tit. 105, r. 12-4-6
Sec. 6. A contract may contain an option to renew or extension of its terms, for a specified period of time, under the following
circumstances:
(1) Exercise of the option is at the discretion of the department.
(2) The provision must be included in the solicitation.
(3) A contract for supplies may be entered into for a period not to exceed four (4) years.
(4) Performance obligations for succeeding fiscal years shall be subject to availability of funds for each year.
(5) The invitation for bid and contract specify the exact payment terms.