Procurement
Indefinite Delivery Indefinite Quantity (IDIQ)
A contract that provides for an indefinite quantity of services or supplies during a fixed time period.
In context
How Indefinite Delivery Indefinite Quantity works in supplier diversity
IDIQ contracts establish maximum and minimum order quantities but don't guarantee specific volumes. Task orders or delivery orders are issued against the IDIQ as needs arise. Winning an IDIQ contract means you've been approved as a vendor but must compete for specific work through task orders.
Example
Real-world example
The certification quiz checks your business against every certification we track. The result is a ranked list with the buyers each one opens. Or open the certification reference for the full guides.