Public Contracting Overview (MCPPO 1) Questions And Answers Rated A+ New Update Assured Satisfaction

A "responsible" Contractor - A "responsible" contractor possesses the skill, ability, and integrity necessary to faithfully perform the work; an "eligible" contractor has met the statutory requirements for eligible bidders set forth in M.G.L. c. 30, § 39M. If the lowest bidder is responsible and eligible, you will award the contract to that bidder A cost reimbursement contract - Because of the need to monitor and verify the vendor's expenditures, a cost reimbursement contract requires more contract oversight than a fixed-price contract requires. Advertising for more than $50K but less than $150,000 - If the building construction contract is estimated to cost more than $50,000 but not more than $150,000, you must solicit competitive sealed bids by advertising the invitation for bids (IFB) in the Central Register, in a newspaper of general circulation in the locality of the project, and on COMMBUYS at least two weeks prior to the deadline for submitting bids. The IFB notice must also be posted in your jurisdiction's office at least one week prior to the deadline. Bidders must submit a five percent bid deposit with their bids. The bid deposit may be in the form of a certified, treasurer's or cashier's check from a responsible bank or trust company payable to the awarding authority; cash; or a bid bond from a surety company. Affirmative Market Program - reserves contracts or portions of contracts for groups of vendors that historically have been disadvantaged through discrimination At Least $10,000 But Not More Than $50,000: Written Price Quotations - If the contract value will be at least $10,000 but not more than $50,000 for the supplies or services, you must solicit at least three written quotes from vendors that customarily provide the supplies or services you are procuring, and award the contract to the responsible vendor who gives you the lowest written quote (or, in the case of a contract under which the vendor will make payments to your jurisdiction, the highest written quote) that meets your purchase description. Under M.G.L. c. 30B, a responsible vendor has the capability to perform fully the contract requirements and the integrity and reliability that assure good faith performance. Best Value - Means awarding contracts based on several factors, including: -A vendor's ability to successfully complete the contract on time, at the quality level specified, at the offered price -Technical quality of the supplies or services offered, and-Vendor's past performance on similar contracts Building construction contracts estimated to cost $10 million or more: mandatory contractor and subcontractor prequalification - Most Massachusetts awarding authorities are required to prequalify general contractors and subcontractors to submit general bids or filed sub-bids on M.G.L. c. 149 contracts estimated to cost at least $10 million; they may elect to do so for M.G.L. c. 149 contracts estimated to cost not less than $100,000 but not more than $10 million.