Did ya know . . . ?
“Multi-year” contracts do not need to be fully funded at the time of award for the entire period of the contract’s performance. FAR 17.104 (a). However, the funds obligated for “multi-year” contracts at the time of award and the beginning of any future contract year must be sufficient to cover the price for the services or supplies provided as well as agreed to cancellation costs or termination costs that may arise from a cancellation or termination. FAR 17.104(c).
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