(A) "Bid" is defined as a prospective vendor's sealed submission to the university, including specifications of the product(s) (or construction project) to be delivered, and the cost for which the prospective vendor would agree to deliver it.
(B) "Proposal" is a prospective vendor's description of the professional services it would provide in response to the university's request (request for proposal), including supporting information such as the prospective vendor's qualifications, previous experience, the ways in which the proposed solution would satisfy the university's needs, and (for services other than professional design for construction) the proposed fee structure.
(C) "Competitive bidding" is the process of obtaining sealed bids for contract award, either through adherence to the process defined in Chapter 153. of the Revised Code (for public improvements), or through the competitive bidding process set forth in rule 3344-65-16 of the Administrative Code.
(D) "Competitive selection" is the process of selecting a service provider through advertising and receipt of proposals. This is done either through adherence to the process defined in Chapter 153. of the Revised Code (for public improvements), or through the competitive selection process set forth in rule 3344-65-16 of the Administrative Code (invitation to bid)..
(E) "Request for quotation" is a formal request to vendors for specific items or a small project. The format typically covers defined item(s) to be purchased, number of items and per unit cost. A request for quotation is similar to bid terms, but applicable to purchases below bid threshold.
(F) "Request for qualifications (RFQ)" is a formal request to vendors to submit their qualifications for a particular service or project.
(G) "Minority business enterprise" (MBE) is a for-profit company that has been in business for longer than one year and is at least fifty-one per cent owned and controlled by a minority person(s) as defined by the state of Ohio, certified by the equal opportunity coordinator of the state of Ohio.
(H) "MagnusMart" is the electronic purchasing system used by the university.
(I) "Purchaser" means an employee authorized by their department to make purchases on the department's behalf.
(J) "Bid threshold" is the value of a purchase above which a competitive bidding or competitive selection process is required pursuant to rule 3344-65-16 of the Administrative Code. The bid threshold for goods and supplies is twenty-four thousand nine-hundred ninety-nine dollars; the bid threshold for services is forty-nine thousand, nine hundred ninety-nine dollars.
(K) "Responsive vendor" is a vendor whose solicited bid or proposal is in substantial conformance with the conditions, requirements and specifications detailed in the invitation to bid or request for proposal.
(L) "Responsible vendor" is a vendor qualified on the basis that it has adequate resources to perform a contract; is able to comply with associated legal or regulatory requirements; is able to deliver according to the contract schedule; has a history of satisfactory performance; has a good reputation regarding integrity; has or is able to obtain necessary resources to fulfill the contract; and is otherwise eligible and qualified to be awarded the contract.
(M) "Purchasing agent" is an employee in purchasing services that assists in the selection and purchase of goods and services by gathering information about products, prices and vendors. Also, distributes invitations to bid and requests for proposals and receives responses from vendors in the form of bids and proposals.
(N) "Vendor" is a person doing business with the university or seeking to do business with the university.