Statutes > New Mexico Statutes > Chapter 13 - Public Purchases and Property. > Article 1 - Procurement, 13-1-1 through 13-1-199. > Section 13-1-71 - Definition; price agreement.

Section 13-1-71 - Definition; price agreement.

13-1-71. Definition; price agreement.

"Price agreement" means a definite quantity contract or indefinite quantity contract which requires the contractor to furnish items of tangible personal property, services or construction to a state agency or a local public body which issues a purchase order, if the purchase order is within the quantity limitations of the contract, if any.