This is a Preferential Right to Purchase Production form. The assignor reserves the right at any time and from time to time to purchase or designate a purchaser for all of assignees oil and other liquid hydrocarbons produced and saved from the interests in the lands and leases that are the subject of this assignment.
Indiana Preferential Right to Purchase Production
Category:
State:
Multi-State
Control #:
US-OG-505
Format:
Word;
Rich Text
Instant download
Description
How to fill out Preferential Right To Purchase Production?
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FAQ
Bids must be opened publicly at the time and place designated on the invitation for bids. Bids must be accepted without alteration and evaluated based on the requirements provided in the invitation for bids. Contract must be awarded by written notice to the lowest responsible and responsive bidder.
Open tendering. Also referred to as ?public bidding,? the formal, public, and competitive procedure during which offers are requested, received and evaluated for goods or services and after which the related contract is awarded to the bidder that complies with the conditions specified in the notice of invitation.
An RBO sets minimum requirements for all contractors bidding on taxpayer-funded projects based on objective criteria and verifiable standards. An RBO is a protection plan for taxpayers, ensuring that local quality standards, local levels of craftsmanship, and local economic development practices are upheld.
A Request for Proposal is a solicitation type commonly used by government entities when they seek a solution or service that is complex or requires customization. Unlike a Request for Bid, an RFP goes beyond just the pricing factor and instead focuses on evaluating various aspects.
A purchasing agent may make a special purchase when: (1) the compatibility of equipment, accessories, or replacement parts is a substantial consideration in the purchase; and (2) only one (1) source meets the using agency's reasonable requirements.
