Mississippi Administrative Code
Title 12 - Finance and Administration
Part 6 - Office of Purchasing, Travel and Fleet Management
Chapter 3 - Source Selection and Contract Formation
Sec2 12-6-3.101 - Purchasing Procedures
Section 12-6-3.101.01 - Definition of Terms Used in this Section

Universal Citation: MS Code of Rules 12-6-3.101.01

Current through September 24, 2024

(1) Established Catalog Price - the price included in a catalog, price list, schedule, or other form that:

(a) Is regularly maintained by a manufacturer or contractor;

(b) Is either published or otherwise available for inspection by customers; and

(c) States price at which sales are currently or were last made to a significant number of any categories of buyers or buyers constituting the general buying public for the supplies or services involved.

(2)Invitation for Bids - all documents, whether attached or incorporated by reference, utilized for soliciting bids.

(3) Purchase Description - the words used in a solicitation to describe the commodities, equipment, or construction to be purchased and includes specifications attached to, or made a part of, the solicitation.

(4)Request for Proposals - all documents, whether attached or incorporated by reference, utilized for soliciting proposals.

(5) Responsible Bidder or Offerer - a person who has the capability in all respects to perform fully the contract requirements and the integrity and reliability which will assure good faith performance.

(6)Responsive Bidder - a person who has submitted a bid which conforms in all material respects to the Invitation for Bids.

(7)Reverse Auction - an electronic auction where suppliers bid online against each other for contracts against a published specification.

(8)Electronic Bids - allows for the online submission of bids. It is a fast, secure and fully audited environment in which suppliers can upload bid files to buyers.

(9) Online Auctions - an auction where items are sold over the internet.

Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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