La. Admin. Code tit. 34 § III-509

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-509 - Determination of Responsibility

A. The Real Estate Leasing Section may request that an apparent low bidder submit suitable evidence that he is a responsible bidder. A responsible bidder shall:

1. have adequate financial resources for performance, or have the ability to obtain such resources as required during performance;

2. have the necessary experience, organization, technical qualifications, skills, and facilities, or have the ability to obtain them (this may include subcontractor arrangements);

3. be able to comply with the proposed or required occupancy date; and

4. not have an unsatisfactory record of contract performance.

B. The Real Estate Leasing Section may request the following information:

1. a letter of credit from a financial institution;

2. financial statement;

3. a letter of commitment from the bank or other institution financing the project and addressed to the Division of Administration, stating the amount and terms of commitment to the lessor;

4. information from the prospective lessor, including representations and other data contained in proposals, or other written statements or commitments, such as financial assistance and subcontracting arrangements;

5. other information supportive of financial responsibility, including financial data, and records concerning lessor performance;

6. publications, including credit ratings and trade and financial journals; and

7. information from other sources, including banks, other financial companies, state departments and agencies, and courts.

La. Admin. Code tit. 34, § III-509

Promulgated by the Office of the Governor, Division of Administration, Facility Planning and Control, LR 10:904 (November 1984), amended LR 26:1022 (May 2000).

AUTHORITY NOTE: Promulgated in accordance with R.S. 39:1551-1736.