Roll Over Contract from Procurement Lexicon

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A Roll-Over Contract is a procurement and contractual arrangement in which an existing agreement or contract is automatically extended for a specified period, typically under the same terms and conditions, unless one of the parties involved chooses to terminate or renegotiate it. This type of contract is often used when continuity is essential, and both parties anticipate a desire to continue the relationship beyond the initial agreement's expiration. It simplifies the renewal process, as it doesn't require the parties to rehash all terms and conditions from scratch, assuming no major changes are needed. Instead, it offers a seamless way to continue a business relationship while maintaining the option to reassess and amend terms if necessary.