As used in this chapter unless the context in which they are used clearly requires a different meaning:

(1)  “Cost-reimbursement contract” shall mean a contract under which the state reimburses the contractor for those contract costs, within a stated ceiling, which are allowable and allocable in accordance with cost principles (as provided in § 37-2-43), and a fixed fee, if any.

(2)  “Established catalogue price” shall mean the price included in the most current catalogue, price list, schedule, or other form that:

(i)  Is regularly maintained by the manufacturer or vendor of an item;

(ii)  Is either published or otherwise available for inspection by customers;

(iii)  States prices at which sales are currently or were last made to a significant number of buyers constituting the general buying public for that item; and

(iv)  States prices which are obtained from the most recent industry wide publications and informational journals if any.

(3)  “Evaluated bid price” shall mean the dollar amount of a bid, after bid price adjustments are made pursuant to objective measurable criteria, set forth in the invitation for bids, which affect the economy and effectiveness in the operation or use of the product, such as reliability, maintainability, useful life, and residual value.

(4)  “Invitation for bids” shall mean all documents, whether attached or incorporated by reference, utilized for soliciting bids in accordance with the procedures set forth in § 37-2-18 and § 37-2-18.1.

(5)  “Request for proposals” shall mean all documents, whether attached or incorporated by reference, utilized for soliciting proposals in accordance with the procedures set forth in this chapter.

(6)  “Responsible bidder or offeror” shall mean a qualified bidder or offeror who has the capability in all respects, including financial responsibility, to perform fully the contract requirements, and the integrity and reliability which will assure good faith performance.

(7)  “Responsive bidder or offeror” shall mean a person who has submitted a bid or offer which conforms in all material respects to the invitation for bids or proposals, so that all bidders or offerors may stand on equal footing with respect to the method and timeliness of submission and as to the substance of any resulting contract.

(8)  “Request for qualifications” shall mean all documents, whether attached or incorporated by reference, utilized for soliciting qualifications of offerors prior to or during the solicitation of bids or proposals.

(9)  “Reverse Auction” shall mean a bid competition where the lowest responsive and responsible bidder wins the auction.

(10)  “Auctioneer” shall mean a business or organization that conducts an electronic reverse auction.