evergreen contract

evergreen contract

a health care contract that is automatically renewed for the term of the contract unless it is renegotiated. Not applicable in Canada.

ev·er·green con·tract

(evĕr-grēn kontrakt)
An agreement for health care contract that is renewed anually unless efforts are made to request changes in coverage.
References in periodicals archive ?
They want to raise the lease for the land which is covered by an evergreen contract under the privatization agreement.
Wood has commenced a multi-million dollar, evergreen contract to act as operating partner of the Scottish Area Gas Evacuation (SAGE) system and Beryl pipeline, on behalf of Ancala Midstream Acquisitions Limited (Ancala Midstream).
The Evergreen contract was developed by Willis in conjunction with AIG, the underwriters.
com)-- Texas Energy Group, LLC (TEG) is pleased to announce that because of their continued relationship and month to month evergreen contract with GulfMark Energy Inc.
With respect to length of terms, no matter who I'm representing--and I've represented both sides--I recommend an indeterminant term, or an evergreen contract.
Kennesaw, Georgia, USA, and Longview Fibre Company, Longview, Washington, USA, have signed a four-year to evergreen contract for Kemira to provide Longview Fibre all specialty/functional chemical requirements for its Longview facility.
David Burtenshaw, chief executive of Lynx Express, said: "We view this as an evergreen contract and hope our five-year agreement is just the beginning of a long-term partnership.
4 million under an evergreen contract for the joint venture to undertake all Unocal Thailand offshore gas field wellhead and pipeline development work in the Gulf of Thailand.
The program offers agents the first residual compensation program with the benefit of an evergreen contract and no monthly commitments.
An automatically renewing or evergreen contract avoids renegotiating terms periodically.
NASDAQ: STKR), a leading designer and manufacturer of structured light lasers, LED modules and specialty optical fibers for industrial OEMs, medical and defense markets, today announced that its Photonics Products unit has been awarded an evergreen contract to supply custom designed, packaged laser diodes for the telecommunications division of a diversified, multi-billion dollar global technology company.
To allow for the new birthing service to operate, the longstanding evergreen contract between the Tasmanian Government and North West Private Hospital will cease, and a new contract has been agreed with a fixed eight-year term.