“Indefinite quantity contract” means a contract which requires the contractor to furnish an indeterminate quantity of specified services, items of tangible personal property or construction during a prescribed period of time at a definite unit price or at a specified discount from list or catalogue prices.

Terms Used In New Mexico Statutes 13-1-63

  • Contract: A legal written agreement that becomes binding when signed.
  • Personal property: All property that is not real property.