Colorado § 24-17-203 Definitions

Colorado Statutes

§ 24-17-203 — Definitions

Colorado·Title 24 Government·Art. State Department Financial Responsibility

As used in this part 2, unless the context otherwise requires:

(1)Contingency-based contract means a contract entered into by a state agency and a vendor for services that:

(a)Requires all or part of the vendor's compensation to be computed by multiplying a stated percentage times the amount of measurable savings in the state agency's expenditures or costs of operation that are demonstrably attributable to the vendor's services under the contract; and

(b)Is entered into without the authority of a state statute that specifically authorizes the agency to enter into such a contract.

(2)Office means the office of state planning and budgeting created in section 24-37-102.

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As used in this part 2, unless the context otherwise
requires:

(1) Contingency-based contract means a contract entered into by a state
agency and a vendor for services that:

(a) Requires all or part of the vendor's compensation to be computed by
multiplying a stated percentage times the amount of measurable savings in the
state agency's expenditures or costs of operation that are demonstrably
attributable to the vendor's services under the contract; and

(b) Is entered into without the authority of a state statute that specifically
authorizes the agency to enter into such a contract.

(2) Office means the office of state planning and budgeting created in
section 24-37-102.

Colorado § 24-17-203 (Definitions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.