Ordinance 3781-20 - Laserfiche WebLink

STANDARD PROCUREMENT POLICY & FEDERAL EMERGENCY CONTRACTING Fair and Reasonable Determination: Is a conclusion that the proposed price is fair to both parties, considering the quality, delivery and other factors. The basis for reaching the conclusion is found in the facts and information considered and analyzed by the buyer. Federal Award: the federal financial assistance that a non-federal entity receives directly from a Federal awarding agency or indirectly through a pass-through entity. [2 C.F.R. § 200.38] Independent Government Cost Estimate (IGCE): the U.S.government's estimate of costs that a contractor or recipient may incur in performing services and/or providing supplies to achieve the government's objectives. The purpose of an IGCE is to estimate the funds needed for the project to provide an objective basis for determining price reasonableness when a supplier responds to a solicitation. Interlocal Agreement: an agreement between public agencies involving an exercise of governmental powers in a joint or cooperative undertaking. [Chapter 39.34 RCW] Invitation for Bid (IFB): a procurement method used to solicit competitive sealed bid responses, sometimes called a formal bid, when price is the basis for award. Job Order Contract: a contract in which the contractor agrees to a fixed period, indefinite quantity, indefinite delivery order contract that provides for the use of negotiated, definitive work orders for public works projects. [RCW 39.10.420-460] Life Cycle Cost: the total cost of ownership over the lifespan of the asset.An analysis technique that takes into account operating, maintenance,the time value of money, disposal, and other associated costs of ownership as well as the residual value of the item. Like-Kind Items: commodities such as tires, fuel, uniforms, furniture or other items that could be purchased in bulk or sporadically throughout the City's fiscal year. It is necessary to evaluate all purchase of like-kind items during the fiscal year to ensure that individual purchases, when combined, do not exceed the City's solicitation thresholds or for federally funded procurements,the federal acquisition thresholds if stricter than City policy. Nominal Value: items of de minimus value given or received such as unsolicited tokens or awards of appreciation, advertising or promotional items for which no personal beneficial interest in the use or acquisition of the item exists; informational material related to the recipient's performance of official duties; food and beverages consumed at hosted receptions where attendance is related to official duties. Non-Federal Entity: the City is a non-federal entity as defined 2 C.F.R. § 200.69. Petty Cash:the purchase of incidental items,valued under two hundred dollars ($200), may be made using petty cash in accordance with the City's current Petty Cash Policy, currently Policy 400-96-02. Piggyback: a form of intergovernmental cooperative purchasing in which an entity will be extended the pricing and terms of a contract entered by another public entity. Generally,that entity will competitively award a contract that will include language allowing for other entities to use the contract, which may be to their advantage in terms of pricing. Prevailing Wage: the hourly wages, usual benefits, and overtime, paid in the locality, to the majority of workers, laborers, or mechanics, in the same trade or occupation. Washington prevailing wages are Page 9 of 57