Illinois Compiled Statutes 30 ILCS 500/1-15.50 – Negotiation
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Terms Used In Illinois Compiled Statutes 30 ILCS 500/1-15.50
- Contract: A legal written agreement that becomes binding when signed.
“Negotiation” means the process of selecting a contractor other than by competitive sealed bids, multi-step sealed bidding, or competitive sealed proposals, whereby a purchasing agency can establish any and all terms and conditions of a procurement contract by discussion with one or more potential contractors.