Illinois General Assembly - Illinois Compiled Statutes

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30 ILCS 500/20-55

(30 ILCS 500/20-55)

Sec. 20-55.

Types of contracts.

Subject to the
limitations of this Section and unless
otherwise authorized by law, any type of contract that will
promote the best interests of the State
may be used, except that cost-plus-a-percentage-of-cost contracts
are prohibited. A
cost-reimbursement contract may be used only when a determination
is made in writing that a
cost-reimbursement contract is likely to be less costly to the
State than any other type or that it
is impracticable to obtain the item required except under that
type of contract.  The general form
of contracts shall be determined by the chief procurement officer.

(Source: P.A. 90-572, eff. date - See Sec. 99-5.)