Mississippi Administrative Code
Title 12 - Finance and Administration
Part 6 - Office of Purchasing, Travel and Fleet Management
Chapter 3 - Source Selection and Contract Formation
Sec2 12-6-3.118 - Multi-Term Contracts
Current through September 24, 2024
(1) Specified Period
Unless otherwise provided by law, a contract for commodities may be entered into for a period of time not to exceed 60 months provided the term of the contract and conditions of renewal or extension, if any, are included in the solicitation, and funds are available for the first fiscal period at the time of contracting. Payment and performance obligations for succeeding fiscal periods shall be subject to the availability and appropriation of funds thereof.
(2) Determination Prior to Use
Prior to the utilization of a multi-term contract, the following must be determined:
(a)
Estimated requirements cover the period of the contract and are reasonably firm
and continuing; and
(b) Such a
contract will serve the best interests of the State by encouraging effective
competition or otherwise promoting economies in State procurement.
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