Oregon Oregon State Treasury

Rule Rule 170-002-0150


An Offer submitted in response to a competitive Procurement is irrevocable, valid and binding on the Offeror for not less than 30 days after the Closing unless otherwise specified in the Solicitation Document, or the Offer is modified or withdrawn as allowed under these rules. The Treasurer may elect to accept an Offer at any time after Closing and prior to the Award date, if any, specified in a Procurement. The Treasurer’s Award constitutes acceptance of the Offer and binds the Offeror to enter into a Contract on the terms that are at least as favorable to the Treasurer as those set forth in the Offer.


Following the Closing, the Treasurer may negotiate any Contract terms or conditions with any Offeror if the Treasurer determines that negotiation is in the Treasurer’s best interests. The Treasurer may include the parameters of any permitted negotiations in its Procurement. Offerors are obligated to negotiate in good faith on those terms or conditions that the Treasurer or the Solicitation Document have reserved for negotiation.


Contingent Offers. Except to the extent the Offeror is authorized to propose certain terms and conditions under a Solicitation Document, an Offeror may not make its Offer contingent upon the Treasurer’s acceptance of any terms or conditions (including specifications) other than those contained in the Solicitation Document.


Offeror’s Acknowledgment. By signing and submitting its Offer, the Offeror acknowledges it has read and understands the terms and conditions contained in the Solicitation Document and that it accepts and agrees to be bound by the terms and conditions of the Solicitation Document.

Last accessed
Jun. 8, 2021