Clauses Extenison Overrun 3 Performance Bid.doc

This is a contract extension and performance bid document outlining key terms and conditions for a state purchasing agreement. The contract includes provisions for vendor past performance evaluation as a factor in award determination. The contract term is structured to allow for an initial period with potential extensions, with a maximum total contract period not to exceed three years from the contract's commencement date.

The document specifies that any contract overruns are limited to a maximum of 3 percent above the agreed-upon amount. The State Purchasing Director retains the right to extend the contract beyond its initial expiration date, provided the contractor consents to such extension. These terms establish both financial controls through the overrun cap and operational flexibility through the extension clause, while maintaining vendor accountability through performance-based evaluation criteria.