Multi-year contract or employment agreement

What is Multi-year contract or employment agreement ?

Multi-year contract or employment agreement meaning A contract or employment agreement that is in effect for more than one year (e.g., more than 365 days). The renewal period of a multi-year contract is not on an annual basis (e.g., a 5-year multi-year contract is renewed every 5 years NOT annually).

 

reference: IPEDS Data Collectrion System – Glossary

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