IDIQ VS BPA Is Crucial To Your Business. Learn Why!
Today, there are nearly as many types of project contracts available as there are projects. Some contract types are better for your high volume or high-frequency suppliers as opposed to others. The IDIQ contract and the BPA contract fit this category. The IDIQ Contract An IDIQ contract is an indefinite-delivery/indefinite-quantity contract. Concerning this type of contract, the name does provide some context and purpose. However, the nuance goes a little further. A fixed-period IDIQ contract specifies a specific period along with IDIQ VS BPA . Within that timeframe, the contractor can take on an unlimited number of separate projects as well as additional work on an existing project. Government agencies, particularly federal agencies, often use IDIQ contract formats for their contracts. These contracts range from five to ten years IDIQ VS BPA in length, but it is common for them to include option years that can be used to extend the contract if necessary. This type of contract