Rule 2.5.507 - PREQUALIFICATION OF VENDORS(1) Vendors may be prequalified for particular types of supplies and services under the following conditions:(a) a need exists to limit a solicitation to those vendors who meet statutory or licensing requirements applicable to the solicitation; or(b) a need exists to minimize the time necessary to verify vendor qualifications which otherwise would jeopardize the timely award of contracts.(2) The documentation for vendor prequalification must reflect the capability of the selected vendor(s) to adequately perform the contract. The criteria for prequalification include, but are not limited to, technical expertise, experience, quality of performance, location, availability, rates, prices, financial stability, past performance, catalogs, or other criteria relevant to a particular procurement.(3) Prequalification must be approved by the division.(4) Prequalification of a prospective vendor does not necessarily represent supply or service acceptability or a finding of responsibility.NEW, 1997 MAR p. 1816, Eff. 10/7/97.18-4-221, MCA; IMP, 18-4-309, MCA;