Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 2 - RULES FOR THE AWARD OF CONTRACTS FOR SERVICES FOR THE HIGHER EDUCATION LOAN PURCHASE PROGRAM
Section 457-2-1 - DEFINITIONS

Universal Citation: 94 ME Code Rules ยง 457-2-1

Current through 2024-38, September 18, 2024

A. Chief Executive Officer. "Chief executive officer" means the authority's chief executive officer or a person acting under the supervisory control of the chief executive officer.

B. Best-Value Proposal. "Best-value proposal" means the proposal that the authority determines best meets the needs of the authority considering all relevant factors.

C. Contract. "Contract" means the agreement between a vendor and the Authority describing the service to be performed, the terms and conditions agreed to by the parties, the cost of the service and how payment will be made.

D. Request for Proposal. "Request for proposal" means a document listing the scope of work, requirements of the Board and all evaluation criteria for a service needed by the Authority. This document is also known by the initials "RFP."

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