After that, vendors may request a revision to their unit-bid prices every 6 months. Bid prices for a specific task order will be firm for the duration of that task order or for a one-year period. Businesses must be registered within the state of Maryland and comply with several other requirements to submit bids or proposals. However, latest information indicates it may expire sooner. The contract may be terminated at any time during the extension period with 30 days written notice.
New Jersey issues term contracts for commodities or services it needs on a consistent basis.
Specifications, terms, conditions and prices are fixed for the duration of the contract. Term contracts do not specify exact dollar amounts, but estimates are provided. All state agencies must use term contract vendors for those commodities or services that are under contract. In addition, other entities, including county and municipal governments as well as school districts, may buy from the state's term contracts under rules and regulations governing cooperative purchasing. Under New Jersey statutes, state contracts automatically extend to county and state colleges, independent institutions of higher education, and independent commissions and authorities.