45A.070 Definitions for KRS 45A.070 to 45A.180.

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Page 1 of 2 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 <br>requires a different meaning: <br>(1) &quot;Best value&quot; means a procurement in which the decision is based on the primary objective of meeting the specific business requirements and best interests of the <br>Commonwealth. These decisions shall be based on objective and quantifiable <br>criteria that shall include price and the reciprocal preference for a resident bidder <br>required under KRS 45A.494 that have been communicated to the offerors as set <br>forth in the invitation for bids. (2) &quot;Cost-reimbursement contract&quot; means a contract under which the Commonwealth reimburses the contractor for those contract costs, within a stated ceiling, which are <br>allowable and allocable in accordance with cost principles as provided in KRS <br>45A.215, and a fee, if any. (3) &quot;Established catalogue price&quot; means the price included in the most current catalogue, price list, schedule, or other form that: <br>(a) Is regularly maintained by the manufacturer or vendor of an item; <br>(b) Is either published or otherwise available for inspection by customers; and <br>(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. (4) &quot;Invitation for bids&quot; means all documents, whether attached or incorporated by reference, utilized for soliciting bids in accordance with the procedures set forth in <br>KRS 45A.080 of this code. (5) &quot;Request for proposals&quot; means all documents, whether attached or incorporated by reference, utilized for soliciting proposals in accordance with the procedures set <br>forth in KRS 45A.085, 45A.090, 45A.095, 45A.100, or 45A.180. (6) &quot;Responsible bidder or offeror&quot; means a person who has the capability in all respects to perform fully the contract requirements, and the integrity and reliability <br>which will assure good faith performance. (7) &quot;Responsive bidder&quot; 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 <br>may stand on equal footing with respect to the method and timeliness of submission <br>and as to the substance of any resulting contract. (8) &quot;Reverse auction&quot; means a real-time, structured bidding process, usually lasting less than one (1) hour, and taking place at a previously scheduled time and Internet <br>location, during which multiple bidders, anonymous to each other, submit revised, <br>lower bids to provide the solicited good or leased space. &quot;Reverse auction&quot; does not <br>apply to construction projects, including but not limited to road, bridge, and <br>building projects. Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 63, sec. 2, effective July 15, 2010; and ch. 162, sec. 7, effective July 15, 2010. -- Amended 2003 Ky. Acts ch. 98, sec. 3, effective <br>June 24, 2003. -- Amended 1997 (1st Extra. Sess.) Ky. Acts ch. 4, sec. 26, effective Page 2 of 2 May 30, 1997. -- Amended 1990 Ky. Acts ch. 496, sec. 3, effective July 13, 1990. -- <br>Created 1978 Ky. Acts ch. 110, sec. 15, effective January 1, 1979. Legislative Research Commission Note (7/15/2020). This section was amended by 2010 Ky. Acts chs. 63 and 162, which do not appear to be in conflict and have been <br>codified together.