(1) A procurement unit conducting a reverse auction: (a) may conduct the reverse auction at a physical location or by electronic means; (b) shall permit all prequalified bidders to participate in the reverse auction; (c) may not permit a bidder to participate in the reverse auction if the bidder did not prequalify to participate in the reverse auction; (d) may not accept a bid after the time for submission of a bid has expired; (e) shall update the bids on a real time basis; and (f) shall conduct the reverse auction in a manner that permits each bidder to: (i) bid against each other; and (ii) lower the bidder's price below the lowest bid before the reverse auction closes.
(a) may conduct the reverse auction at a physical location or by electronic means;
(b) shall permit all prequalified bidders to participate in the reverse auction;
(c) may not permit a bidder to participate in the reverse auction if the bidder did not prequalify to participate in the reverse auction;
(d) may not accept a bid after the time for submission of a bid has expired;
(e) shall update the bids on a real time basis; and
(f) shall conduct the reverse auction in a manner that permits each bidder to: (i) bid against each other; and (ii) lower the bidder's price below the lowest bid before the reverse auction closes.
(i) bid against each other; and
(ii) lower the bidder's price below the lowest bid before the reverse auction closes.
(2) At the end of the reverse auction, the conducting procurement unit shall: (a) award the contract as soon as practicable to the responsible bidder who: (i) meets the objective criteria described in the invitation for bids; and (ii) submitted the lowest responsive bid; or (b) cancel the reverse auction without awarding a contract.
(a) award the contract as soon as practicable to the responsible bidder who: (i) meets the objective criteria described in the invitation for bids; and (ii) submitted the lowest responsive bid; or
(i) meets the objective criteria described in the invitation for bids; and
(ii) submitted the lowest responsive bid; or
(b) cancel the reverse auction without awarding a contract.
(3) After the reverse auction is finished, the conducting procurement unit shall make publicly available: (a) (i) the amount of the final bid submitted by each bidder during the reverse auction; and (ii) the identity of the bidder that submitted each final bid; and (b) if practicable: (i) the amount of each bid submitted during the reverse auction; and (ii) the identity of the bidder that submitted each bid.
(a) (i) the amount of the final bid submitted by each bidder during the reverse auction; and (ii) the identity of the bidder that submitted each final bid; and
(i) the amount of the final bid submitted by each bidder during the reverse auction; and
(ii) the identity of the bidder that submitted each final bid; and
(b) if practicable: (i) the amount of each bid submitted during the reverse auction; and (ii) the identity of the bidder that submitted each bid.
(i) the amount of each bid submitted during the reverse auction; and
(ii) the identity of the bidder that submitted each bid.
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