W. Va. Code R. § 106-22-4

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 106-22-4 - Purchasing requirements

4.1. Documentation associated with all procurements shall be maintained in files in accordance with DFI record retention policy.

4.2. All purchases of services shall be subject to expenditure approval.

4.3. Contracts shall be issued for all procurements regardless of dollar amounts to assist with tracking and ensure proper internal controls.

4.4. Vendors shall be responsible for submitting a correct and accurate bid to the agency by the specified bid opening time, date, and location and in accordance with the procurement documents.

4.5. A vendor shall not commence work on any procurement without receipt of the awarded contract and any required notice to proceed. The agency shall not be responsible for any work by a vendor prior to and not in accordance with the contract awarded.

4.6. Commissioner approval is required to obtain any services using an exempt procurement pursuant to this rule.

4.7. DFI will utilize the Direct Award method of procurement because the service and vendor to be sought pursuant to the identified statutory authority is on the "Impossible to Bid" list set forth in Section 9 of the West Virginia State Purchasing Division Procedures Handbook,

4.8. When competitive bidding is not expressly required by statute and not used for a direct award, DFI will evaluate vendors based upon the following criteria, where applicable, and will document its evaluation:

4.8.1. Overall experience;

4.8.2. Professional certifications or designations;

4.8.3. Company specific experience;

4.8.4. Company type experience;

4.8.5. Knowledge of company or line of business;

4.8.6. Prior work for the agency;

4.8.7. Professional reputation;

4.8.8. Availability and commitment to required timeframes;

4.8.9. Adequacy of staffing, including the ability of assigned staff members to complete the contract without substitution;

4.8.10. Quality of work;

4.8.11. Experience with Conference of State Bank Supervisors' accreditation review process and knowledge of federal agency examination guidelines;

4.8.12. References from other state bank regulators or subject matter experts;

4.8.13. Projected costs;

4.8.14. Conflicts of interest;

4.8.15. Support services available to the vendor, including but not limited to information technology services; and

4.8.16. Any other guidelines or procedures DFI considers appropriate.

4.9. Any required vendor terms and conditions must be submitted and approved before a contract is awarded. DFI will obtain approval from the Attorney General as to contract form and conformity with applicable law when required by statute.

4.10. All procurements over $2,500 will use a purchase order.

4.11. Aggregate procurements in excess of $25,000 shall not circumvent the formal procurement requirements in any 12-month rolling period.

4.12. Non-responsive bids shall be rejected. A non-responsive bid is one that fails to conform to the solicitation in all material respects.

W. Va. Code R. § 106-22-4