GovCon Acronym Decoder
Government contracting runs on shorthand. Search any acronym and get a plain-English definition, when you will run into it, whether you need one, and where it comes from.
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1 of 172 terms matching "Option"
Option Period
A pre-priced future period or quantity the government may exercise unilaterally, typically option years after a base year.
When you see it
In the pricing schedule as separate CLINs.
Do you need it
Price escalation into your option years. You are usually locked into what you bid.
Where it comes from
FAR Subpart 17.2.
Option Period
A pre-priced future period or quantity the government may exercise unilaterally, typically option years after a base year.
When you see it
In the pricing schedule as separate CLINs.
Do you need it
Price escalation into your option years. You are usually locked into what you bid.
Where it comes from
FAR Subpart 17.2.
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