Name: Multiyear Contract
Screen Name: Multi Year Contract
Definition: A multi-year contract means a contract for the purchase of supplies or services for more than 1, but not more than 5, program years. Such contracts are issued under specific congressional authority for specific programs. A multi-year contract may provide that performance under the contract during the second and subsequent years of the contract is contingent upon the appropriation of funds, and (if it does so provide) may provide for a cancellation payment to be made to the contractor if appropriations are not made. The key distinguishing difference between multi-year contracts and multiple year contracts is that multi-year contracts buy more than 1 year's requirement (of a product or service) without establishing and having to exercise an option for each program year after the first.
FAR/DFARS: FAR 17.103; DFARS 253.204-70(b)(10)
Length: 1
Required: Mandatory for DoD and selected civilian agencies
Values:
Y Yes Contract is a multiyear contract as defined by FAR 17.103
N No Contract is not a multiyear contract as defined by FAR 17.103
FPDS Legacy: Currently Collected; PEC approved
Instruction: Enter code Y when the definition for multiyear contract applies. Do not report contracts containing options as multiyear unless the definition above applies to the contract.