Rule 5501:2-3-06 | Joint venture bids.
(A) When two or more persons, partnerships, limited liability companies or corporations bid jointly on a project, such bid is a "joint venture bid."
(B) Joint venture bidders must complete a joint venture application for qualification not less than five days before bids are opened if all joint venture partners hold certificates as individuals or not less than thirty days before bids are opened if a joint venture partner does not hold a certificate. Joint venture bidders may make application to receive a joint venture certificate of qualification and may use the joint venture certificate of qualification for a period of time not to exceed the expiration date of any joint venture partner. All joint venture applications must be in writing on such forms as may be prescribed by the director, must be signed by all joint venture partners, and must include the following information:
(1) The name of an individual who shall have power of attorney to act for and bind all of the joint venture partners, which power of attorney shall be filed with the signed contract; and
(2) The mailing address and street address of the joint venture.
(C) In any joint venture the contract, contract bond and all insurance shall be in the name of the joint venture and shall be binding on and apply to all members of the joint venture jointly and severally.
(D) The joint venture entity shall obtain a new tax identification number in accordance with the regulations of the United States internal revenue service.
(E) Each joint venture partner will receive a contractor evaluation for each project that it performs. The evaluation score will be added to each joint venture partner's yearly scores in order to determine each partner's multiplying factor.
Last updated March 24, 2023 at 12:59 PM
Supplemental Information
Amplifies: –
Five Year Review Date:
Prior Effective Dates: 1/15/1964, 1/1/1998