|Note:||At the request of the provost, a vice provost, or a vice president, this policy has been posted in the interim between scheduled posting dates by University Policy Manuals Group because it has significant and urgent importance for the university community. This policy will be included in the publication process by the next feasible posting for online policies and procedures.|
PUR 504–01: Contract Time Span
To specify the length of time authorized for procurement contracts
Arizona Board of Regents Policy Manual - 3-803
Contracts generally will not extend beyond the end of the fiscal year.
Contracts may, however, be written for a one-year period with options to renew for a stated number of additional years, generally not to exceed four. The term of the contract and the conditions of renewal must be included in the solicitation.
Contracts may be written for a period of time not to exceed five years if:
Contracts for a period of time exceeding five years require the written approval of the president or a designee who determines in writing that such a contract would be advantageous to the university.