1512-Special Contracting Methods-FAR Parts 16 & 17 Flashcards
What are Multiple Year Contracts?
Not the same as Multi-year contracts
May be IDIQ contracts or contracts with annual options
Does NOT require Congressional Approval
What are Multi-year Contracts?
Acquires known requirements for up to 5 years
52.217-2, Cancellation Under Multi-year Contracts
Cancellation ceiling
Funds to cover cancellation or termination
Present value analysis of multi-year to annual procurements
President’s Budget—requires Congressional approval
What requirements must be fulfilled to exercise an option?
Contracting officer may exercise options only after determining that–
Funds are available
Option fulfills an exiting need
Option is most advantageous method of fulfilling need
Option was synopsized IAW FAR Part 5
What is the length for multiple year contracts?
5 years for supplies
5 years for sevices
When is an indefinite delivery contract appropriate?
When there is a repetitive need
What is needed to exercise an option year?
A Determination of Finding (D&F)
