Guam § 5237 - Multi-Year Contracts.
Full text of Guam Guam Code Annotated § 5237 — Multi-Year Contracts., with citation guidance and answers to common questions.
§ 5237. Multi-Year Contracts.
(a) Specified Period. Unless otherwise provided by law, a contract for supplies or services may be
entered into for any period of time deemed to be in the best interests of Guam provided the term of the
contract and conditions of renewal or extension, if any, are included in the solicitation and funds are
available for the first fiscal period at the time of contracting. Payment and performance obligations for
succeeding fiscal periods shall be subject to the availability and appropriation of funds therefor.
(b) Determination Prior to Use. Prior to the utilization of a multi-year contract, it shall be determined
in writing:
(1) that estimated requirements cover the period of the contract and are reasonably firm and
continuing; and
(2) that such a contract will serve the best interests of Guam by encouraging effective competition
or otherwise promoting economies in Guam procurement.
(c) Cancellation Due to Unavailability of Funds in Succeeding Fiscal Periods. When funds are not
appropriated or otherwise made available to support continuation of performance in a subsequent fiscal
period, the contract shall be cancelled and the contractor shall be reimbursed for the reasonable value of
any non-recurring costs incurred but not amortized in the price of the supplies or services delivered under
the contract. The cost of cancellation may be paid from any appropriations available for such purposes.
Frequently Asked Questions About Guam § 5237
What does Guam Code Annotated § 5237 cover?
Section 5237 ("Multi-Year Contracts.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 5237?
A common citation format is "Guam Code Annotated § 5237" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 5237 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.