Texas Government Code 2157.182 – Validity of Preapproved Terms and Conditions; Renegotiation
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(a) Preapproved terms and conditions to which a vendor, the comptroller, and the department agree are valid for two years after the date of the agreement and must provide that the terms and conditions are to be renegotiated before the end of the two years.
(b) The comptroller and the department jointly shall establish procedures to ensure that terms and conditions are renegotiated before they expire in a contract between the vendor and a state agency.
Terms Used In Texas Government Code 2157.182
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Contract: A legal written agreement that becomes binding when signed.