A contract or commitment made under subsection (a) may not exceed five years from the date of the contract or commitment. Such purchases and commitments to purchase may be made for such quantities and on such terms and conditions, including advance payments, as the President considers to be necessary.
The President, acting through the National Defense Stockpile Manager, shall include in the reports required under section 98h–2(b)(1) of this title information with respect to activities conducted under this section.