New Mexico Statutes 13-1-63. Definition; indefinite quantity contract
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“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.