Questions and Correct
Answers | New Update
What is public purchasing? - ANSWER ✔✔The process of procuring
goods and services for public purposes in accordance with law and
procedures that are intended to result in the economical expenditure of
public funds.
What are mandatory bid items? - ANSWER ✔✔Bid Guarantee,
Surety Certificate, Statement of Corporate Ownership, Listing of
Subcontractors, Acknowledgement of Addenda, Iran Disclosure, McBride
Disclosure, Ukraine/Russia Disclosure.
, When is a bid guarantee needed? - ANSWER ✔✔Only needed when
a contract is valued in excess of $100,000.
What forms can a bid guarantee take? - ANSWER ✔✔A bid bond, a
certified check, a money order, or a cashier's check.
What is the purpose of a bid guarantee? - ANSWER ✔✔To guarantee
that the bidder will enter into the contract.
What is the bid threshold for contracts? - ANSWER ✔✔$17,500,
which may be awarded by a purchasing agent if the total does not
exceed this amount in a contract year.
How often is the bid threshold adjusted? - ANSWER ✔✔Every 5
years, no later than March 1st.
What happens if a bidder has prior negative experience? - ANSWER
✔✔They can be disqualified for up to 5 years.
What is the definition of emergencies and exigencies in public
contracting? - ANSWER ✔✔Contracts may be negotiated or awarded
without public advertising when an emergency affecting public health,
safety, or welfare requires immediate delivery of goods or services.