1. (1) Each bidder shall have a sufficient net financial rating to perform the work that it proposes to do. Two, but not more than 3, bidders may bid jointly on a project without declaring their intention to do so before the submittal of bids, if each bidder has a net financial rating and numerical rating equal to or greater than the total required for the project and has met the requirements of R 247.43. All other joint ventures shall request department approval to bid as a joint venture not later than 5:00 p.m. on the day preceding the letting date for which the request is being made.
2. (2) The joint venture request form shall identify one of the entities as having responsibility for overall administration of the project.
3. (3) All parties in a joint venture will be held accountable for appropriate execution of the contract.
4. (4) Each party in a joint venture may be subject to changes in its overall financial rating or numerical ratings, or both, in accordance with R 247.22.

History: 1979 AC; 2002 AACS; 2009 AACS.