SECTION 610:1-11-21. Contract Renewals

  The Chancellor or the Chancellor's designee may waive bidding requirements for renewals and renegotiations of contracts when the extension or reinstatement of an existing contract would prove more cost effective or beneficial. The requesting unit must provide a written statement of justification supporting that (1) the continuance of the existing business relationship remains advantageous to the State Regents and/or institutions; and (2) a conversion to a competing vendor would be financially impractical both in terms of the prohibitive cost of the conversion and the market place vulnerability that would likely result.

[Source: Added at 23 Ok Reg 3038, eff 7-13-06]