W. Va. Code R. § 112-17-2

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

Section 112-17-2 - Definitions

2.1. "Addendum" means a written modification to specifications or other procurement document issued by the STO.

2.2. "Award" means the written determination of the selection of a vendor to perform under a contract issued after encumbrance in wvOASIS and final STO approval.

2.3. "Best Value Procurement" means a procurement method used in awarding a contract based on evaluating and comparing all established quality criteria and cost is not the sole determining factor in the award. This includes RFPs, RFIs and EOIs.

2.4. "Bid" means an offer by a vendor in response to a procurement document to provide commodities or services in accordance with the specifications of the STO issued procurement document and includes a proposal to an RFP.

2.5. "Blackout Period" means a period during which all communication must be routed through STO Purchasing once a requisition has been submitted up to a final award.

2.6. "Bond" means a surety or other security that guarantees payment or performance under a contract, including a bid bond, labor and material payment bond, maintenance bond and performance bond.

2.7. "Change Order" means a written modification or amendment to an STO issued contract in the manner provided in the contract or upon the mutual consent of the STO and the vendor.

2.8. "Commodities" means goods, supplies, materials, equipment or any other tangible item.

2.9. "Competitive Negotiation" means the process determined to be in the best interests of the STO and by which the STO negotiates with the highest scoring vendors believed to be competent, responsible and responsive in a procurement and for which cost is considered but not determinative in making an award.

2.10. "Contract" means the binding agreement entered into between the STO and a vendor to provide the commodities or services requested in the procurement and includes a purchase order.

2.11. "Cooperative Procurement" means use of a contract awarded by another entity, including but not limited to, another state of West Virginia agency, board or commission or another organization regularly involved in the procurement of commodities or services for which the process of procurement and award were determined by the STO to be in accordance with reasonable procurement standards.

2.12. "Direct Award" means the procurement method to award a contract to a vendor able to provide the commodities and services without competitive bidding when there is no known competition, and when circumstances allow.

2.13. "Emergency Procurement" means acquisition method used when time is of the essence, unforeseen causes arise that include a threat to public health, welfare, safety, circumstances warrant immediate action to stabilize the situation or safeguarding the state's assets, not because of poor planning, neglect or lack of organization.

2.14. "Expression of Interest" or "EOI" means a procurement method that seeks vendors to provide information and express an interest in a procurement, generally for architectural and engineering services.

2.15. "FOIA" means Freedom of Information Act found in West Virginia Code § 29B-1-1 et seq.

2.16. "Life Cycle Costing" means a procurement method that takes into consideration the cost of the commodity and service being acquired over its expected life or usage and for which cost is considered but is not a determining factor.

2.17. "Master Agreement" means a contract with specified terms and conditions except quantity, which is also known as an open-end contract.

2.18. "Non-disclosure Agreement" means a contract between two or more parties to prohibit the release of information defined in the agreement as confidential, sensitive or private in a manner that violates the non-disclosure agreement.

2.19. "Procurement" means the process of purchasing, renting, leasing or otherwise acquiring, receiving and maintaining commodities and services, including receiving, inspection, storekeeping, and contract administration.

2.20. "Procurement Document" means an RFQ, RFP, RFI, EOI and other document and all attachments related to the bidding or other means of acquiring commodities and services.

2.21. "Protest" means a formal written statement from a prospective or an actual vendor that states the vendor's dissent or disagreement as to a procurement document or process pertaining to an STO procurement.

2.22. "Rapid Award Contract" means a procurement method available to the STO's investment and savings programs for purchases that are exempt from requirements of W. Va. Code § 5A-3-1et seq., upon approval of the Legal Division and the Treasurer or Assistant Treasurer and when time is of the essence.

2.23. "Request for Information" or "RFI" means a document that seeks information to aid in preparing specifications.

2.24. "Request for Proposal" or "RFP" means a document issued by the STO to obtain services and/or commodities and services for which cost is not the sole determining factor for award.

2.25. "Request for Quotation" or "RFQ" means a document issued by the STO to obtain a quotation or bid.

2.26. "Requisition" means a written or electronic request for the purchase of commodities and services.

2.27. "Responsible Vendor" means a vendor believed to have the capability to perform a Contract and the integrity and reliability to assure good faith performance.

2.28. "Responsive Vendor" means a vendor submitting a bid that conforms in all material respects to the requirements and specifications of a procurement document.

2.29. "Services" means intangible items, that include labor, time, expertise, maintenance, software and service agreements.

2.30. "Specification" means a clear and accurate description of the physical, functional or performance characteristics or nature of a commodity being acquired, and may include requirements for inspection, testing and performance.

2.31. "State" means the State of West Virginia

2.32. "STO" means the West Virginia State Treasurer, the State Treasurer's Office, or the State Treasurer's designee.

2.33. "STO Purchasing" means the division within the STO with personnel who manage the functionality of STO procurement.

2.34. "Total Ownership or Operational Cost" means a procurement method that takes into consideration the costs of designing, bidding, implementing, operating, training, transitional costs, residual value, disposal, and processes for a commodity or service for which costs is not the determining factor in award.

2.35. "Vendor" means a person or entity considering or submitting a bid, a person or entity selected as the lowest responsible and responsible vendor in connection with a bid, or a person or entity that has been awarded the contract.

W. Va. Code R. § 112-17-2