1. (a) All bids must be received no later than the date and time set by the Teacher Retirement System. Late bids will be returned to the bidder unopened. Late bids will not be considered under any circumstances.
2. (b) The bid opening shall take place at a date and time set by the Teacher Retirement System.
3. (c) In determining the quality of the bids, the Board of Trustees or its designee may consider such factors and criteria as they deem relevant.
4. (d) Bids must be valid for at least 120 days following the proposal receipt date.
5. (e) TRS shall not provide compensation to bidders for any expenses incurred by the bidder for bids preparation or for any demonstrations that may be made. Bidders submit bids at their own risk and expense.

Source Note:The provisions of this §41.32 adopted to be effective November 5, 2001, 26 TexReg 8850.