§ 5-22-17-10 — Contract for petroleum products

Indiana § 5-22-17-10

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 22: PUBLIC PURCHASING
• Ch. 17: Contracts

Text

(a) As used in this section, "petroleum
products" includes the following:
(1) Gasoline.
(2) Fuel oils.
(3) Lubricants.
(4) Liquid asphalt.
(b) A purchasing agent may award a contract for petroleum products
to:
(1) the lowest responsible and responsive offeror; or
(2) all responsible and responsive offerors.
(c) A contract entered into under this section may allow for the
escalation or de-escalation of price.
(d) This subsection applies to a petroleum products contract that is
awarded to all responsible and responsive offerors as provided in
subsection (b). The purchasing agent must purchase the petroleum
products from the lowest of the responsible and responsive bidders.
The contract must provide that the bidder from whom petroleum
products are being purchased shall provide five (5) business days
written notice of any change in price. Upon receipt of written notice,
the purchasing agent shall request current price quotes in writing based
upon terms and conditions of the original offer (as awarded) from all
successful responsible and responsive offerors. The purchasing agent
shall record the quotes in minutes or memoranda. The purchasing agent
shall purchase the petroleum products from the lowest responsible and
responsive offeror, taking into account the price change of the current
supplier and the price quotes of the other responsible and responsive
offerors.

Legislative History

As added by P.L.49-1997, SEC.1.