(A) Purchases less than $25,000. The purchasing agent may not require evidence of financial responsibility when the estimated cost of a purchase is less than $25,000.
(B) Purchases between $25,000 and $100,000. The solicitation may include a requirement that an offeror provide evidence of financial responsibility. If evidence of financial responsibility is required, the solicitation must indicate the kind of evidence that will be acceptable. If a bond or certified check is required, it may not exceed 10% of the estimated cost of the purchase.
(C) Purchases over $100,000. The solicitation shall include a requirement that an offeror provide evidence of financial responsibility and must indicate the kind of evidence that will be acceptable. If a bond or certified check is required, it may not exceed 10% of the estimated cost of the purchase.
(1992 Code, § 2-234) (Ord. 996, § 1, passed 8-25-1998)