01 NCAC 05b .0319          contract term

(a)  Except as allowed in G.S. 143-53(d), the Agency's executive officer, or his or her designee, shall develop procedures consistent with this Chapter for approving Contract terms up to three years.

(b)  Except as otherwise provided by statute, a Contract with a term that exceeds three years, including the Initial Contract Term and any Renewal and Extension, requires approval of the SPO prior to posting the Solicitation. Requests for approval may be made through the Electronic Bid System.

(c)  No Contract may contain a provision that provides for more than two one-year Renewals without prior approval of the SPO.

(d)  SPO approval may be granted after consideration of the factors in Rule .0321 of this Section or when the SPO determines it is most advantageous to the State in accordance with G.S. 143-52(a).

History Note:        Authority G.S. 143-49; 143-52; 143-53; 143-135.9;

Eff. March 1, 2022.