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 invitation to bid.
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.