(1) Price analysis may be used to determine if a price is reasonable and competitive, such as when:
- (a) there are a limited number of vendors, bidders, or offerors;
- (b) awarding a sole source or other contract without engaging in a standard procurement process; or
- (c) identifying prices that are significantly lower or higher than other vendors, bidders, or offerors.
- (2) Price analysis involves a comparison of prices for the same or similar procurement items, including quality, warranties, service agreements, delivery, contractual provisions, terms, and conditions, and so on.
(3) Examples of a price analysis include:
- (a) prices submitted by other prospective bidders or offerors;
- (b) price quotations;
- (c) previous contract prices;
- (d) comparisons to the existing contracts of other public entities; and
- (e) prices published in catalogs or price lists.
KEY: terms and conditions, contracts, change orders, costs
Date of Last Change: October 22, 2024
Authorizing, and Implemented or Interpreted Law: 63G-6a-107.7(1); 63G-6a-1202; 63G-6a-1204; 63G-6a-1205; 63G-6a-1207; 63G-6a-1208; 63G-6a-1209