Common use of Price Matching Clause in Contracts

Price Matching. A price matching option will be available for Contractors that are a Georgia Resident, Small Businesses, or Georgia Resident Small Businesses. Contractors must indicate its status as a Georgia Resident, Small Businesses, or Georgia Resident Small Businesses as requested in the solicitation based on the following criteria: a. Georgia Resident Businesses - Georgia resident business refers to any business that regularly maintains a place from which business is physically conducted in Georgia for at least one year prior to any bid or proposal to the state or a new business that is domiciled in Georgia and which regularly maintains a place from which business is physically conducted in Georgia, provided, however, that a place from which business is conducted shall not include a post office box, a leased private mailbox, site trailer, or temporary structure(O.C.G.A) Section 50-5-121, 50-5-122. b. Small Businesses: Small business refers to a business which is independently owned and operated with either fewer than 300 employees or less than $30 million in gross receipts per year (O.C.G.A) Section 50- 5-121, 50-5-122. and/or, c. Georgia Resident Small Businesses: Georgia Resident Small Business refers to any business that meets both criteria of Small Business and Georgia Resident Business as defined above. The ability to price match will only be granted to responsive and responsible bidders that are within 5% up to $10,000 of the lowest responsive and responsible bid. The indication by the supplier that the supplier will price match does not constitute further negotiation of pricing. In the event both the lowest bidder and the next lowest bidder qualify as a Georgia Resident, Small Businesses, or Georgia Resident Small Businesses, the price match option will be void.