IDIQ Fundamentals Explained

IDIQ Fundamentals Explained

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March eighteen, 201312 yr comment_17420 An IDIQ contract have to have some funding on it, although simply to protect the confirmed minimum, Except if, as is usual nowadays, the confirmed minimum was happy with the issuance of the 1st get. An option item may or may not require funding, nevertheless it can't be "unpriced.

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When a contracting officer awards an IDIQ contract, she has obligated the Government to get the agreement least. She has established an obligation. When that very same contracting officer more info cites a lengthy line of accounting (containing the appropriation citation) along with a dollar quantity within the award document, she has recorded an obligation (when she distributes the award document to her accounting Workplace, they are going to file the obligation while in the agency's publications).

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