New Mexico Statutes 13-1-151. Multi-term contracts; determination prior to use
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Prior to the utilization of a multi-term contract, the state purchasing agent or the central purchasing office involved shall make a determination that:
Terms Used In New Mexico Statutes 13-1-151
- Contract: A legal written agreement that becomes binding when signed.
A. the estimated requirements cover the period of the contract and are reasonably firm and continuing; and
B. the contract will serve the best interests of the state agency or a local public body.