Chart Quantity Contract

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ID IQ. From Wikipedia, the free encyclopedia. In U.S. Federal government contracting, ID IQ is an abbreviation of the term indefinite delivery/indefinite quantity. This is a type of contract that provides for an indefinite quantity of supplies or services during a fixed period of time.
An ID IQ contract provides for an indefinite quantity of a product or service, with stated limits, during a fixed period. This type of contract requires the government to order (and the contractor to furnish) at least a stated minimum quantity of supplies or services.
ID IQ. In U.S. Federal government contracting, ID IQ is an abbreviation of the term indefinite delivery/indefinite quantity. This is a type of contract that provides for an indefinite quantity of supplies or services during a fixed period of time.
FTA recommends an ID IQ approach with maximum quantities established in the contract, rather than an “open-ended,” requirements-type contract where no maximum quantity is stated.
There are three types of indefinite delivery contracts: definite quantity, indefinite-quantity and requirements contracts. All three are used to acquire supplies and/or services when the exact times and/or exact quantities of future deliveries are not known at the time of contract award.
Cost-Plus-Fixed-Fee (CUFF) Contracts The contractor receives reimbursement plus a predetermined fee that is negotiated when the contract is finalized and will not change based on the actual contract cost. However, the fee may be revised if the work required to complete the contract also changes.
Federal government contracts are commonly divided into two main types, fixed-price and cost-reimbursement. Other contract types include incentive contracts, time-and-materials, labor-hour contracts, indefinite-delivery contracts, and letter contracts.
Fixed-Price Contracts. Cost-Reimbursement and Cost-Plus Contracts. Time-and-Materials Contracts (T&M) Indefinite Delivery/Indefinite Quantity (ID IQ) Contracts.
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