Competitive Bids. No Grant funds shall be disbursed to Grantee unless and until, with respect to contracts and/or purchases related to the Project exceeding $325,000, Grantee shall have obtained competitive bids using (a) Grantee’s established competitive bidding procedures (including, but not limited to, utilization of any continuing services agreements with approved vendors), a copy of which established procedures shall be uploaded to Triumph’s SmartSheet system, and/or (b) any statutory or regulatory procedures applicable to Grantee. In awarding contracts, Grantee shall award the contract to the lowest cost qualified responsive bidder considering the selection criteria contained within the invitation to bid. Triumph shall review the proposed award and all other contracts before the bid is awarded. Triumph shall have fifteen (15) days from the receipt of the submitted material to notify Grantee of its approval or disapproval of such proposed award or contract. If Triumph fails to approve or disapprove of the award or contract within such fifteen (15) day period, the award or contract shall be deemed approved.
Appears in 3 contracts
Sources: Grant Award Agreement, Grant Award Agreement, Grant Award Agreement