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The Las Vegas Valley Water District is a quasi-municipal
corporation of the State of Nevada and our purchasing and contracting
activities are governed by the Nevada Revised Statutes (NRS).
NRS
Chapter 332 governs our purchases for commodities, services
and professional services. Construction contracts are governed under
NRS
Chapter 338. These statutes give the Water District its purchasing
and contracting authority, which is delegated to its staff by the
Water District's Board of Directors.
Types of purchases and contracts
There are three ways to handle purchases
and contracts, depending on their estimated cost:
- Purchases and contracts
less than $25,000 require a single quote.
- Purchases and contracts between $25,000 and $50,000 require two or more informal
quotes from parties who are capable of performing the contract.
- Purchases and contracts
more than $50,000 are formal bids. These bids must be advertised and the responses sealed when they are returned. These bids must be awarded by the LVVWD Board of Directors or the authorized representative, when appropriate, to the lowest responsive, responsible bidder(s).
Bonds and insurance requirements
There are typically four types of bonds that are required
for construction contracts and some purchases:
- Bid Bond
- Performance Bond
- Labor and Material Bond
- Guarantee Bond
Commercial general liability and automobile insurance
are required for construction contracts and larger goods and services
contracts. The following are types of contracts that require bonds
and insurance:
- Construction contracts over
$30,000 require all four types of bonds and insurance
- Performance bonds may be
required for service contracts
- Insurance may be required
on some commodity contracts and for professional service contracts
- Bid bonds and performance
bonds are rarely required on commodity contracts
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