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Indiana Code Title 5. State and Local Administration § 5-22-7.5-2

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 2. (a) Before conducting a reverse auction, the purchasing agency must adopt written policies that do the following:

(1) Establish procedures for all the following:

(A) Transmitting notices, solicitations, and specifications.

(B) Receiving offers.

(C) Making payments.

(D) Protecting the identity of a bidder or an offeror.

(E) For a reverse auction, providing for the display of the amount of each offer previously submitted for public viewing.

(F) Establishing the deadline by which offers must be received and will be considered to be open and available for public inspection.

(G) Establishing the procedure for the opening of offers.

(2) Require the purchasing agency to maintain adequate documentation regarding reverse auctions so that the transactions may be audited as provided by law.

(b) Written policies that comply with rules for an Internet public purchasing site adopted by the Indiana department of administration under IC 4-13-17-4 satisfy the requirements of this section.

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Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-22-7.5-2 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-22-7-5-2/

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