Easily Insert Option Field to the Performance Contract

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A step-by-step instructions on how to Insert Option Field to the Performance Contract

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How to Insert Option Field to the Performance Contract

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hi this is rhiannon from the contract express team this video will show you how to insert fields or variables into your templates there are two ways to do this the first is to insert the field directly into your document to do so select the text you wish to replace and press the insert field button this brings up the variable editor give your variable a name for your own reference and then enter the question you wish the end user of the template questionnaire to be asked to collect different types of data such as dates or numbers you may select the relevant variable type from the drop down press ok and the variable is inserted into your document and added to your dictionary you will also see a pop-up asking whether you would like to replace all instances of the text you selected to do so select yes the second way to create variables is by selecting the plus icon and then new variable from inside the dictionary editor this brings up a docked version of the variable editor you can then e

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What is the difference between FAR 52.217-8 and 52.217-9?

FAR Subpart 17.2 prescribes two primary clauses for service contracts: (1) 52.217-8 for short term extensions up to six months, typically used for situations outside the contracting offices control when a new contract cannot be awarded on time, and (2) 52.217-9, which normally results in one or more annual options.

How is an option different from other contracts?

The key distinction between an options contract and a firm offer is that the options contract is merely an open-ended contract that is primarily supported by consideration and a designated time frame. It need not be a contract for the sale of goods.

What is an example of an option?

Example of an Option. Suppose that Microsoft (MFST) shares trade at $108 per share and you believe they will increase in value. You decide to buy a call option to benefit from an increase in the stocks price. You purchase one call option with a strike price of $115 for one month in the future for 37 cents per contact.

What is the purpose of FAR 52.217-8?

FAR 52.217-8 allows the government to extend services without negotiating short extensions to existing contracts in circumstances, such as those here, where the award of a successor contract is delayed.

What is the option to extend a contract clause?

The Option to Renew clause stipulates the conditions under which one or both parties may elect to renew the term of an agreement. Typically, this requires that the party not be in bdocHub or default of the agreement. Alternatively, this can be handled in the Term clause itself.

What are option years in government contracts?

Option years are a common feature of service contracts with the federal government. Many such contracts provide for a base period of performance and then allow the Government to exercise one or more options to extend the contract term.

What is an option in contracting?

An options contract is an agreement between two parties to facilitate a potential transaction on an underlying security at a preset price, referred to as the strike price, prior to or on the expiration date.

What are options in Government contracting?

Federal Acquisition Regulation (FAR) 2.101 defines an option as a unilateral right in a contract by which, for a specified time, the government may elect to purchase additional supplies or services called for by the contract, or may elect to extend the term of the contract. There are some docHub points

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