The contract is for Continuing Traffic Engineering Services, which includes tasks such as engineering design, investigations, reviews of plans and documentation, and construction engineering inspection services. The contract has a term of three years, with the option to extend for two additional one-year periods. The contract value is not explicitly stated, but it is estimated to be around $1 million to $5 million based on the scope of work and the hourly rates provided. The contract is a term-based contract, and the payment method is based on a lump sum or hourly rate plus direct costs.