.070 Definitions for KRS 45A.070 to 45A.180.
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45A.070 Definitions for KRS 45A.070 to 45A.180.
As used in KRS 45A.070 to 45A.180, unless the context in which they are used clearly
requires a different meaning:
(1) "Cost-reimbursement contract" means a contract under which the Commonwealth
reimburses the contractor for those contract costs, within a stated ceiling, which are
allowable and allocable in accordance with cost principles as provided in KRS
45A.215, and a fee, if any.
(2) "Established catalogue price" means the price included in the most current
catalogue, price list, schedule, or other form that:
(a) Is regularly maintained by the manufacturer or vendor of an item;
(b) Is either published or otherwise available for inspection by customers; and
(c) States prices at which sales are currently or were last made to a significant
number of buyers constituting the general buying public for that item.
(3) "Best value" means a procurement in which the decision is based on the primary
objective of meeting the specific business requirements and best interests of the
Commonwealth. These decisions shall be based on objective and quantifiable
criteria that shall include price and that have been communicated to the offerors as
set forth in the invitation for bids.
(4) "Invitation for bids" means all documents, whether attached or incorporated by
reference, utilized for soliciting bids in accordance with the procedures set forth in
KRS 45A.080 of this code.
(5) "Request for proposals" means all documents, whether attached or incorporated by
reference, utilized for soliciting proposals in accordance with the procedures set
forth in KRS 45A.085, 45A.090, 45A.095, 45A.100, or 45A.180.
(6) "Responsible bidder or offeror" means 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.
(7) "Responsive bidder" means a person who has submitted a bid under KRS 45A.080
which conforms in all material respects to the invitation for bids, so that all bidders
may stand on equal footing with respect to the method and timeliness of submission
and as to the substance of any resulting contract.
Effective: June 24, 2003
History: Amended 2003 Ky. Acts ch. 98, sec. 3, effective June 24, 2003. -- Amended
1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 26, effective May 30, 1997. -- Amended
1990 Ky. Acts ch. 496, sec. 3, effective July 13, 1990. -- Created 1978 Ky. Acts
ch. 110, sec. 15, effective January 1, 1979.
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