evergreen contract

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.
Medical Dictionary for the Health Professions and Nursing © Farlex 2012
References in periodicals archive ?
They want to raise the lease for the land which is covered by an evergreen contract under the privatization agreement.
The Evergreen contract was developed by Willis in conjunction with AIG, the underwriters.
Spicewood, TX, June 03, 2012 --(PR.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., they are being paid a higher net price for their oil sold in Liberty, Tyler, Matagorda, Karnes, Goliad and Ft.
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. Under this arrangement, the contract doesn't automatically come to a crashing halt.
Kemira Chemicals Inc., 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.
In October 2000, Clough was awarded the first of three contracts worth A$68.4 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.
An automatically renewing or evergreen contract avoids renegotiating terms periodically.
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