Ordinance 3781-20 - Laserfiche WebLink

STANDARD PROCUREMENT POLICY& FEDERAL EMERGENCY CONTRACTING Commodity: a general term for a product or service to fulfill a need or want, and references both goods and services. Competitive Bidding: the process of inviting and obtaining bids from competing suppliers, by which an award is made to the lowest responsive bid from a responsible bidder who meets the written specifications. A valid competitive bidding process provides potential bidders with a fair opportunity to win that contract. Competitive Solicitation: any solicitation, including Invitations for Bid (IFB), Requests for Proposal (RFP), Request for Quotation, or Requests for Qualifications (RFQ) in which Procurement has or will play a key role in seeking fair and open competition in compliance with 2 C.F.R. § 200.319 and other applicable law. Construction: the process of using labor to build, alter, repair, improve, or demolish any structure, building or public improvement.This generally does not apply to routine maintenance, repair, or operation of existing structure, building or improvement. Consultant: An independent person or company that possesses necessary qualifications that allow them to perform specialized advisory services, usually for a fee. Contract: a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty. Cooperative Procurement: when a public procurement official is authorized to collaborate with other public procurement officials for the conduct of a joint procurement using a single Invitation for Bid (IFB) or Request for Proposal (RFP) on behalf of each participating public entity where in doing so would leverage the benefits of volume purchases and create a demonstrable and substantial reduction of administrative time and expense. This will be completed through an Interlocal agreement. Cost Analysis: the review and evaluation of cost data for the purpose of arriving at costs actually incurred or estimates of costs to be incurred. A cost analysis should be employed when price analysis is impractical or does not allow a purchaser to reach the conclusion that a price is fair and reasonable. Expected Cost: the anticipated annual need for a commodity should be used to determine the appropriate threshold. Fair and Reasonable: Price that is fair to both the buyer and seller(both parties). In federal contracting, a fair and reasonable price is subject to both statutory and regulatory limitations. Buyers and suppliers may have different perceptions on what price is fair. • To be fair to the buyer, a price must be in line with the fair market value of the contract deliverable.To be fair to the supplier a price must be realistic in terms of the supplier's ability to satisfy the contract. • A reasonable price is a price that a prudent and competent buyer would be willing to pay given available data on market conditions. Economic forces such as supply, demand,general economic conditions and competition change constantly. Hence, a price that is reasonable today may not be reasonable tomorrow. Page 8 of 57