Contract Type

(1) Term Contracts (a) Agency Term Contract - State Agencies may establish term contracts for specific goods or services. The resulting contract shall contain a maximum liability dollar amount that represents the estimated dollar volume as prescribed in the solicitation. (b) Statewide Term Contract - The Central Procurement Office may establish statewide term contracts that all State Agencies must utilize and that may be used by local governments and higher education. (2) Term Contract-General (a) A term contract for more than a period of twelve (12) months may provide that the State has the right to cancel at any time for convenience by providing written notice to the Contracting Party. (b) All term contracts shall contain a provision that provides for the termination of the contract at the end of any fiscal year in the event funds are not available. (c) The requirement of a multi-year contract shall be stated in the solicitation, and any multi-year contract shall be awarded pursuant to these Rules and shall not be for a period longer than sixty (60) months unless approved by the Chief Procurement Officer COMPREHENSIVE RULES AND REGULATIONS OF THE CHAPTER 0690-03-01 CENTRAL PROCUREMENT OFFICE as being in the best interests of the State. The justification for the contract term exceeding sixty (60) months shall be maintained in the records of the Central Procurement Office. A report of all contracts awarded for a period longer than sixty (60) months in such format and at such interval determined requested shall be provided to the Comptroller of the Treasury. (d) There shall be no pricing agreement other than in a contract between the State and a Contracting Party. (3) No Cost Contracts (a) A “No Cost Contract” is a written contract that does not result in a pecuniary obligation between the State and a Contracting Party. Prior to proceeding with procuring a No Cost Contract, the Procuring Agency shall obtain the Chief Procurement Officer’s approval. (b) If a No Cost Contract Request is approved, the State Agency shall proceed with the procurement in accordance with these Rules and Central Procurement Office Policy. The request shall be maintained in the records of the Central Procurement Office. (4) Revenue Contracts (a) A “Revenue Contract” is a written contract where a State Agency provides specific deliverable services for monetary compensation. Prior to proceeding with any Revenue Contract negotiation, the State Agency must obtain the prior approval of the Chief Procurement Officer. If the request to enter into a Revenue Contract is approved, the State Agency shall proceed to procure the Revenue Contract in accordance with these Rules and Central Procurement Office Policy. The request shall be maintained in the records of the Central Procurement Office.