Regulation .15 Contracts Voidable for Noncompliance.
Regulation .15 Contracts Voidable for Noncompliance.LinkCopy Citation
A.
If the Board determines that a procurement violates this chapter, the Board may determine that the procurement contract is voidable rather than void if the Board finds that:
(1)
All parties have acted in good faith;
(2)
Ratification of the procurement contract would not undermine the purposes of this chapter; and
(3)
The violation, or series of violations, was insignificant or otherwise did not prevent substantial compliance with this chapter.
B.
If the Board determines that a procurement contract is voidable under §A of this regulation and that the contractor has not acted in violation of this chapter, the Board may:
(1)
Ratify the contract if it determines that ratification is in the best interest of the Authority; or
(2)
Void the contract.
C.
If the Board determines that a procurement contract is voidable under §A of this regulation and that the contractor has acted in violation of this chapter, the Authority:
(1)
May void the contract; or
(2)
Without the prejudice to the Authority's right to appropriate damages, may ratify the contract if the Board determines that ratification is in the best interests of the Authority.