§ 37-2-15 - Source selection and contract formation – Statutory provisions.
SECTION 37-2-15
§ 37-2-15 Source selection and contractformation – Statutory provisions. – As used in this chapter unless the context in which they are used clearlyrequires a different meaning:
(1) "Cost-reimbursement contract" shall mean a contract underwhich the state reimburses the contractor for those contract costs, within astated ceiling, which are allowable and allocable in accordance with costprinciples (as provided in § 37-2-43), and a fixed fee, if any.
(2) "Established catalogue price" shall mean the priceincluded in the most current catalogue, price list, schedule, or other formthat:
(i) Is regularly maintained by the manufacturer or vendor ofan item;
(ii) Is either published or otherwise available forinspection by customers;
(iii) States prices at which sales are currently or were lastmade to a significant number of buyers constituting the general buying publicfor that item; and
(iv) States prices which are obtained from the most recentindustry wide publications and informational journals if any.
(3) "Evaluated bid price" shall mean the dollar amount of abid, after bid price adjustments are made pursuant to objective measurablecriteria, set forth in the invitation for bids, which affect the economy andeffectiveness in the operation or use of the product, such as reliability,maintainability, useful life, and residual value.
(4) "Invitation for bids" shall mean all documents, whetherattached or incorporated by reference, utilized for soliciting bids inaccordance with the procedures set forth in §§ 37-2-18 and 37-2-18.1.
(5) "Request for proposals" shall mean all documents, whetherattached or incorporated by reference, utilized for soliciting proposals inaccordance with the procedures set forth in this chapter.
(6) "Responsible bidder or offeror" shall mean a qualifiedbidder or offeror who has the capability in all respects, including financialresponsibility, to perform fully the contract requirements, and the integrityand reliability which will assure good faith performance.
(7) "Responsive bidder or offeror" shall mean a person whohas submitted a bid or offer which conforms in all material respects to theinvitation for bids or proposals, so that all bidders or offerors may stand onequal footing with respect to the method and timeliness of submission and as tothe substance of any resulting contract.
(8) "Request for qualifications" shall mean all documents,whether attached or incorporated by reference, utilized for solicitingqualifications of offerors prior to or during the solicitation of bids orproposals.
(9) "Reverse Auction" shall mean a bid competition where thelowest responsive and responsible bidder wins the auction.
(10) "Auctioneer" shall mean a business or organization thatconducts an electronic reverse auction.