The comptroller enters into term contracts for the purchase
or lease of goods or services used in large quantities by several
state agencies. The term of the contract is determined by the comptroller.
(1) Bid invitations.
(A) The comptroller maintains records of the quantities
and/or dollar volumes purchased under term contracts during the previous
year, and includes this information in bid invitations. Term contracts
are established for estimated quantities only, however, and do not
guarantee that the state will order any given amount during the contract
period.
(B) Term contracts may be either firm price or firm
fixed price contracts with escalation and de-escalation.
(2) Awards.
(A) The comptroller will notify a successful bidder
of the acceptance of its bid by issuing a notice of award. The successful
bidder must review the notice of award and notify the comptroller
in writing within 5 days of any error requiring correction.
(B) Performance bonds may be required for each award
exceeding $100,000.
(3) Delivery requirements.
(A) All items shipped by a contractor must be new (unless
otherwise specified in a purchase document) and received by the agency
in first-class condition within the specified time.
(B) All merchandise shipped against the contract order
during the term of the contract must be as the contractor originally
quoted. If items become unavailable during the term of a contract,
the comptroller may require the contractor to furnish acceptable substitutes.
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