22VAC30-60-320. Authority for multiyear awards.
A. An Area Agency on Aging may enter into a multiyear subcontract provided such contract has a completion date, a binding schedule of costs for each year of the entire contract period, a satisfactory performance clause, and a funds-availability clause. An optional-year contract is the preferred contracting mechanism for multiyear awards.
B. The maximum period of time for a multiyear subcontract from the effective date of the contract to close-out shall be five years. Any subcontracts for periods longer than five years shall be reprocured and renegotiated at the end of the five-year period through normal competitive processes.
Statutory Authority
§ 51.5-131 of the Code of Virginia; 42 USC § 3001 et seq.
Historical Notes
Derived from Virginia Register Volume 29, Issue 2, eff. October 24, 2012.