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This doesn't signify that obligations are certainly not created or that obligations really should not be recorded from the agency's accounting records when IDIQ contracts are awarded.
December 29, 20177 yr comment_39039 There isn't a minimum amount warranty inside of a needs contract. Rather, the "consideration" is that each one specified (recurring) function will probably be offered to that seller for your timeframe, so one particular advantage of a requirements deal is that there is no have to obligate funds at time of award to address the least. The truth is, there's no should purchase anything at all.
That's not essentially suitable. Some companies set minimums for selection yrs. In that circumstance, exercising an option obligates the government and an obligation must be recorded at time on the work out. You are able to do that by at the same time issuing a undertaking or supply get.
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(recording as obligations things that are not) is usually finished to inflate obligated balances and lower unobligated balances
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(three) The deal may specify utmost or least quantities that the Government might order less than each task or supply buy and the utmost that it might order all through a selected timeframe.
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