Oklahoma Administrative Code › Title 731 - Oklahoma Turnpike Authority › Chapter 10 - Prequalification to Bid, Suspension and Debarment of Contractors, Affiliates and Others › Section 731:10-1-2 - Prequalification

Current through Vol. 41, No. 20, July 1, 2024
(a) Except as provided in this Rule, only prequalified contractors will be permitted to bid on public construction contracts to be awarded by the Authority.
(b) Except as provided in this Rule, before a prospective bidder may obtain bidding documents from the Authority, the prospective bidder shall be prequalified. Prospective bidders not currently prequalified may seek to become prequalified by submitting to the Authority's Director of Engineering a completed Prequalification Application which may be obtained from the Authority's Division of Engineering at the Authority's general administrative offices.
(c) The first time applicant contractor must submit as part of its Prequalification Application an audited financial statement which is certified by a Certified Public Accountant. The audited financial statement shall not be dated more than 90 days prior to the date of submission of the Prequalification Application to the Authority. In the event that the applicant's audited financial statement was issued more than 90 days prior to the submission of the Prequalification Application, but not more than 270 days prior to application, the applicant may submit its most recent audited financial statement and its most recent unaudited quarterly financial statements. Based upon these documents the Authority may, in its discretion, grant the applicant a conditional prequalification. In a conditional prequalification the Authority shall impose such additional requirements, not inconsistent with the laws of this State and this Rule, as the Authority deems necessary and in the best interests of the public. A conditional prequalification shall be valid only for a period not to exceed 120 days beyond the end of the applicant's fiscal year. Work performed during conditional prequalification shall not form the basis for prequalification. No applicant may be granted a conditional prequalification more frequently than once every three years.
(d) No first time applicant contractor will be qualified unless the applicant's Prequalification Application and the supporting investigation show that the applicant possesses working capital sufficient to indicate that the applicant can satisfactorily perform its contracts and meet all obligations incurred therein. The audited financial statement and unaudited quarterly statements must show all liabilities (current, deferred and contingent).
(e) If the first time applicant contractor submits cash value of life insurance as an asset, the applicant will support the submission with a letter from the insurance company, showing that the applicant absolutely controls the cash value.
(f) A partnership will submit an audited financial statement and, as appropriate, unaudited quarterly statements of each partner individually, and an audited financial statement and quarterly statements of the partnership which will include all the assets and liabilities of each partner.
(g) First time applicants will furnish an itemized list of all secondary cash resource items such as marketable securities, stocks and bonds.
(h) First time applicants will sign all forms submitted to the Authority in the manner in which the applicant intends to sign bid proposals.
(i) The Authority's Director of Engineering will make such investigation of the information submitted as necessary and make a determination as provided in subsection (j) below within thirty (30) days following receipt of the completed Prequalification Application.
(j) The Authority's Director of Engineering will qualify, or refuse to qualify, any first time applicant contractor for paving, grading and drainage, bridge or other Authority construction work in accordance with such contractor's experience and financial condition and notify the applicant in writing within ten (10) days following such determination.
(k) First time applicant contractors will not be permitted to bid on individual projects that exceed prequalification amounts. Proposals may be "taken out" without limitation as to aggregate total. Should a contractor be low bidder on contracts totaling more than the amount it is capable of bonding, the Authority reserves the right to:
(1) reject any or all of the contractor's bids and readvertise for new bids as required in the best interests of the State; or
(2) revoke the award of any of the contractor's projects; or
(3) proceed to do the work otherwise, when the best interests of the State will be promoted thereby.