Illinois Administrative Code › Title 44 - GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT › Part 650 - PREQUALIFICATION OF CONTRACTORS, AUTHORIZATION TO BID, AND SUBCONTRACTOR REGISTRATION › Subpart A - PREQUALIFICATION › Section 650.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Affidavit of Availability" - A sworn affidavit indicating
				  all work under contract, pending awards, all subcontracts and value of
				  subcontracts.
"Affiliate" - A member of a group of two or more companies
				  related to one another through common ownership, common management, common
				  control or the power to exercise common control. Two corporations are
				  affiliated when one owns less than a majority of the voting stock of the other,
				  or when both are subsidiaries of a third corporation.
"Applicant" - Any prospective contractor who has applied for
				  prequalification in compliance with the procedures delineated in this Part.
				  "Applicant" may be used interchangeably with "Contractor" throughout this
				  Part.
"Application for Prequalification" - A package of forms
				  titled "Application for Prequalification, Statement of Experience, Equipment
				  and Financial Condition" (Form BC-8) required to be submitted by an applicant
				  in support of its request for a determination of responsibility and a
				  prequalification rating.
"Authorization to Bid" - The permission given to a contractor
				  to submit a bid on a given Department letting item and the permission to have
				  that bid made public.
"Available Bidding Capacity" - The applicable available work
				  ratings and the available financial rating.
"Available Financial Rating" - Financial rating as indicated
				  on the Certificate of Eligibility less the total value of all uncompleted work
				  to be done with the applicant's own forces and work subcontracted to
				  others.
"Available Work Rating" - The work rating in a particular
				  category as indicated on the Certificate of Eligibility less all similar
				  uncompleted work to be done with the applicant's own forces (for a listing of
				  available work categories, see Appendix A of this Part).
"Certificate of Appraiser" - The certification by an
				  appraiser that the appraisal is performed with no direct or indirect interest,
				  financial or otherwise, in the business of the applicant.
"Certificate of Eligibility" - A certificate issued to the
				  applicant by the Department indicating the applicant's financial rating, work
				  ratings and the effective period of prequalification.
"Code" - The Illinois Procurement Code [30 ILCS 500 ].
"Combining Financial Statement" - A comprehensive financial
				  statement that presents the assets, liabilities, net worth, and operating
				  figures of two or more affiliated companies. The statement presents each
				  affiliate's financial data in separate, adjacent columns and a total column for
				  the combined affiliate data.
"Consolidated Financial Statement" - A financial statement
				  that presents the assets, liabilities, and operating accounts of a parent
				  company and its subsidiaries.
"Contract" - The written agreement between the Department and
				  the contractor setting forth the obligations of the parties thereunder,
				  including, but not limited to, the performance of the work, the furnishing of
				  labor and materials, and the basis of payment. The contract consists of the
				  invitation for bids, the proposal, the letter of award, the contract form and
				  contract bond, any specifications and supplemental specifications, any special
				  provisions, any general and detailed plans, and all agreements that are
				  required to complete the construction of the work, including contract time, all
				  of which constitute one instrument.
"Contractor" - The individual, partnership, corporation or
				  other business entity recognized by law contracting with the Department for
				  performance of prescribed work. An applicant which has been issued a
				  Certificate of Eligibility. "Contractor" may be used interchangeably with
				  "Applicant" throughout this Part.
"Department" - The Illinois Department of
				  Transportation.
"Department of Human Rights Identification Number" - A number
				  assigned to an applicant who has prequalified with the Department of Human
				  Rights.
"Director" - The Director of the Division of Highways or the
				  Director's designee.
"Eligible" - Satisfying the appropriate conditions as set
				  forth in the contract solicitation documents.
"Engineer of Construction" - The individual responsible for
				  directing the development of the Department's highway construction policies
				  that assure uniform practices, interpretation and applications in
				  Illinois.
"Financial Rating" - The measured ability of an applicant to
				  sustain adequate cash flow for the duration of an awarded contract based on the
				  submitted application for prequalification.
"Financial Statement" - A presentation of financial data,
				  including accompanying notes, derived from accounting records that are intended
				  to show an applicant's economic resources and obligations at a point in time or
				  the changes therein for a period of time in conformity with a comprehensive
				  basis of accounting.
"Joint Venture" - Two or three contractors combining their
				  available financial and work ratings for the purpose of bidding a construction
				  project.
"Letter of Subordination" - A signed statement from a
				  stockholder, officer, director, employee, parent, subsidiary or affiliate
				  agreeing not to withdraw a specific amount of money loaned to the applicant
				  during the period of prequalification.
"Net Worth" - Total assets minus total liabilities.
"Parent" - A corporation that owns or controls subsidiary
				  companies through the ownership of voting stock. A parent corporation is
				  usually an operating company in its own right. Where the parent has no business
				  of its own, the term "holding company" may apply.
"Prequalification" - The rating process established by the
				  Department required of all prospective bidders, unless waived, prior to being
				  considered for Authorization to Bid, as well as being considered for contracts
				  to be awarded by local agencies requiring approval of award by the Department.
				  Once prequalified, an applicant is issued a Certificate of Eligibility.
"Prequalification Section" - The section within the Bureau of
				  Construction of the Department responsible for determining responsibility,
				  financial ratings, work ratings, and the issuance of bidding proposals.
"Request for Authorization to Bid or Not for Bid Status" - A
				  form, BDE 124, provided by the Department to assist a contractor in making a
				  formal request for Authorization to Bid on the requested items.
"Responsibility" - The capability in all respects to perform
				  fully the requirements of an awarded contract, and the integrity and
				  reliability that will assure good faith performance.
"Special Letting" - A letting that is not listed on the
				  Department's annual letting schedule as posted on the Transportation
				  Procurement Bulletin.
"Specialty Items" - Items that are designated in the contract
				  documents that are considered to require specialized construction techniques
				  that are not ordinarily available in contracting organizations qualified to
				  bid.
"Standard Specifications" - A Department publication entitled
				  Standard Specifications for Road and Bridge Construction that sets forth the
				  contract provisions for road and bridge construction.
"Subsidiary" - A corporation having more than 50% of the
				  voting stock owned by another corporation called the "parent".
"Transportation Procurement Bulletin" - The public document
				  that is the official publication and invitation issued by the Department for
				  bids on construction projects.
"Working Capital" - Current assets less applied discounts and
				  current liabilities.
"Work Rating" - The dollar value of work of a particular
				  category of construction that an applicant can perform with his/her
				  organization and equipment in one construction season.