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Indefinite Quantity Contract
An indefinite-quantity contract provides for an indefinite quantity, within stated limits, of supplies or services during a fixed period. The Government places orders for individual requirements. Quantity limits may be stated as number of units or as dollar values.

Quoted from the §16.504 of the Federal Acquisition Regulation.

Also see NIH Policy Manual Chapter 6016-2.

See Also: Task-Order Contract Delivery-Order Contract