Florida Statutes 287.0572 – Present-value methodology
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 287.0572
- Agency: means any of the various state officers, departments, boards, commissions, divisions, bureaus, and councils and any other unit of organization, however designated, of the executive branch of state government. See Florida Statutes 287.012
- Department: means the Department of Management Services. See Florida Statutes 287.012
- Invitation to bid: means a written or electronically posted solicitation for competitive sealed bids. See Florida Statutes 287.012
- Invitation to negotiate: means a written or electronically posted solicitation for competitive sealed replies to select one or more vendors with which to commence negotiations for the procurement of commodities or contractual services. See Florida Statutes 287.012
- Request for proposals: means a written or electronically posted solicitation for competitive sealed proposals. See Florida Statutes 287.012
The cost of bids, proposals, or replies for state contracts that include provisions for unequal payment streams or unequal time payment periods shall be evaluated using present-value methodology. Each agency, as defined in s. 287.012(1), shall perform the evaluation using the present-value discount rate supplied by the department. The present-value discount rate shall be the rate for United States Treasury notes and bonds published in the Interest Rates: Money and Capital Markets section of the most recent copy of the Federal Reserve Bulletin published at the time of issuance of the request for proposals, the invitation to negotiate, or the invitation to bid.