KRS 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) "Best value" means a procurement in which the decision is based on the primary

objective of meeting the specific business requirements an d best interests of the

Commonwealth. These decisions shall be based on objective and quantifiable

criteria that shall include price and the reciprocal preference for a resident bidder

required under KRS 45A.494 that have been communicated to the offerors as set

forth in the invitation for bids.

(2) "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.

(3) "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.

(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 incorporat ed 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.

(8) "Reverse auction" means a real-time, structured bidding process, usually lasting less

than one (1) ho ur, and taking place at a previously scheduled time and Internet

location, during which multiple bidders, anonymous to each other, submit revised,

lower bids to provide the solicited good or leased space. "Reverse auction" does not

apply to construction pr ojects, including but not limited to road, bridge, and

building projects.