(1) The reverse auction bidding process begins when the issuing procurement unit issues an invitation for bids to prequalify bidders to participate in the reverse auction.

(2) The invitation for bids shall: (a) state the period of time during which bids will be accepted; (b) state that the bid will be conducted by reverse auction; (c) describe the procurement items sought; (d) describe the minimum requirements to become prequalified; (e) state the required contractual terms and conditions; and (f) describe the procedure that the conducting procurement unit will follow in the reverse auction.

(a) state the period of time during which bids will be accepted;

(b) state that the bid will be conducted by reverse auction;

(c) describe the procurement items sought;

(d) describe the minimum requirements to become prequalified;

(e) state the required contractual terms and conditions; and

(f) describe the procedure that the conducting procurement unit will follow in the reverse auction.

(3) In order to participate in a reverse auction, a bidder shall agree to: (a) the specifications, and contractual terms and conditions, of the procurement; and (b) be trained in, and abide by, the procedure that the division or the procurement unit with independent procurement authority will follow in conducting the reverse auction.

(a) the specifications, and contractual terms and conditions, of the procurement; and

(b) be trained in, and abide by, the procedure that the division or the procurement unit with independent procurement authority will follow in conducting the reverse auction.

(4) The division or a procurement unit with independent procurement authority shall publish an invitation for bids for a reverse auction in accordance with the requirements of Section 63G-6a-112.