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 ?
The Evergreen contract was developed by Willis in conjunction with AIG, the underwriters.
The evergreen contract, delivered from Petrofac s Great Yarmouth Office, secures 26 onshore and offshore jobs, and in addition to Duty Holder responsibilities, Petrofac will take over management for an existing helicopter services contract.
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.
In April last year I asked the Public Transport Authority to work with BusWA on delivering the State s long-term commitment of maintaining the traditional orange school bus industry by introducing an evergreen contract for operators, Mr Buswell said.
Stork Technical Services and Vestas have now formalised their relationship via signing an evergreen contract.
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.