Way Agreement Contract With The Government
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FAQ
Specifically, an IDIQ contract opportunity can fall under the banner of a fixed-price contract, a cost-reimbursement contract or a time and materials contract.
Hear this out loud PauseUsing a multiple-award IDIQ contract allows the government to select several possible vendors for an agency to rely on, then ask that small group of vendors to bid against one another to complete each separate task.
In U.S. Federal government contracting, IDIQ is an abbreviation of the term indefinite delivery/indefinite quantity. This is a type of contract that provides for an indefinite quantity of supplies or services during a fixed period. IDIQs are also sometimes called "Task Orders" or "Delivery Order Contracts."
Federal government contracts are commonly divided into two main types, fixed-price and cost-reimbursement. Other contract types include incentive contracts, time-and-materials, labor-hour contracts, indefinite-delivery contracts, and letter contracts.
Indefinite delivery, indefinite quantity contracts provide for an indefinite quantity of services for a fixed time. They are used when GSA can't determine, above a specified minimum, the precise quantities of supplies or services that the government will require during the contract period.