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 12-6-3.115 - Cost or Pricing Data
Sec2 12-6-3.115.03 - Meaning of Terms "Adequate Price Competition," "Established Catalog Prices" or "Market Prices," and "Prices Set by Law or Regulation"
Section 12-6-3.115.03.2 - Adequate Price Competition

Price competition exists if competitive sealed proposals are solicited and at least two responsible offerers independently compete for a contract to be awarded to the responsible offerer submitting the lowest evaluated price by submitting priced offers (or best and final offers) meeting the requirements of the solicitation. If the foregoing conditions are met, price competition shall be presumed to be "adequate" unless the Agency Procurement Officer determines in writing that such competition is not adequate.