(1) Types of Contracts. Subject to the limitations of this section, any type of contract which will promote the best interests of the State may be used, except that the use of a cost-plus-a-percentage-of-cost contract shall be approved by the Office of General Services. A cost-reimbursement contract, including a cost-plus-a-percentage-of-cost contract, shall be used only when a determination sufficient for external audit is prepared showing that such contract is likely to be less costly to the State than any other type or that it is impracticable to obtain the supplies, services or construction required except under such a contract.
(2) Contract Forms. The board shall promulgate by regulation the form of the contracts to be used in connection with state purchasing and construction. The forms as shall be developed for Article 9 of this chapter shall be printed as a part of those regulations. A governmental body may enter into a contract or agreement without using the form promulgated pursuant to the board's regulation when the contract or agreement is for the rental of equipment valued at ten thousand dollars or less and the duration of the contract or agreement does not exceed ninety days.