Section 3-122-134 - Selection of contract types(a) The selection of an appropriate contract type depends on factors, including but not limited to: (1) The nature of the goods, services, or construction to be procured;(2) The uncertainties which may be involved in contract performance;(3) The extent to which the purchasing agency or the contractor is to assume the risk of the cost of performance of the contract; and(4) The degree of responsibility assumed by the contractor.(b) The objective when selecting a contract type is to obtain the best value in needed goods, services, or construction in the time required and at the lowest cost or price to the purchasing agency. (1) To achieve this objective, the procurement officer, before choosing a contract type, should review the elements of the procurement which directly affect the cost, time, risk, and profit incentives bearing on the performance;(2) Factors to be considered in selecting any type of contract include but are not limited to: (A) The type and complexity of the good, service, or construction item being procured;(B) The difficulty of estimating performance costs as the inability of the agency to develop definitive specifications, to identify the risks to the contractor inherent in the nature of the work to be performed, or otherwise to establish clearly the requirement of the contract;(C) The administrative costs to both parties;(D) The degree to which the purchasing agency must provide technical coordination during the performance of the contract;(E) The effect of the choice of the type of contract on the amount of competition to be expected;(F) The stability of material or commodity market prices or wage levels;(G) The urgency of the requirement; and(H) The length of contract performance.[Eff 12/15/95; comp 11/17/97; am and comp MAR 21 2008] (Auth: HRS §§ 103D-202, 103D-313) (Imp: HRS § 103D-313)