Cord Master is familiar with bidding on IDIQ Contracts. “IDIQ” is an acronym that means “indefinite delivery/indefinite quantity” and typically refers to requirements which are subject to the whims of government funding.
We frequently work directly with the US Federal Government or as a subcontractor to various Federal agencies’ prime contractors. This causes us to consider IDIQ implications as we develop pricing and schedule manufacturing.
IDIQ Contracts According to Wikipedia
“IDIQ is a U.S. federal government contracting acronym meaning indefinite delivery/indefinite quantity. This is a type of contract that provides for an indefinite quantity of supplies or services during a fixed period of time. The legal origin of IDIQ contracts is the Federal Acquisition Regulation (FAR) section 16.504(a) (48 C.F.R. 16.504(a)).”