§ 63G-6a-612. Conduct of reverse auction. (Effective 3/29/2014)

(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.

(2) At the end of the reverse auction, the conducting procurement unit shall:

(a) award the contract as soon as practicable to the lowest responsive and responsible bidder who meets the objective criteria described in the invitation for bids; 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.

Amended by Chapter 196, 2014 General Session