What type of contract is characterized by providing an indefinite quantity of goods or services during a fixed period?

Study for the ACQ 1010 Fundamentals of Systems Acquisition Management Test. Dive into flashcards and multiple-choice questions, complete with hints and detailed explanations. Gear up for a successful exam!

The type of contract that is characterized by providing an indefinite quantity of goods or services during a fixed period is the indefinite-quantity contract. This contract type allows the contracting agency to order an unspecified amount of supplies or services over a set timeframe without needing to specify the exact quantity upfront.

Indefinite-quantity contracts are particularly useful for ongoing projects where the exact requirements may not be known at the time of contracting, allowing flexibility and responsiveness to changing needs. They typically establish minimum and maximum limits to manage the contractor's workload and ensure that the agency can fulfill its requirements within a defined range.

In contrast, fixed-price contracts set a specific price for defined goods or services, while cost-reimbursement contracts involve the government covering the contractor's expenses plus a fee, and time and materials contracts compensate based on the time spent and materials used, neither providing the same level of flexibility regarding indefinite quantities.

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