Indiana § 5-22-13-5 - Supplies and services must meet specifications; determination of fair market price
Full text of Indiana Indiana Code § 5-22-13-5 — Supplies and services must meet specifications; determination of fair market price, with citation guidance and answers to common questions.
§ 5-22-13-5. Supplies and services must meet specifications; determination of fair market price
Sec. 5. (a) Supplies and services purchased under this chapter must:
(1) meet the specifications and needs of the purchasing governmental body; and
(2) be purchased at a fair market price as described under subsection (b).
(b) A fair market price under this section must cover for the qualified agency the costs of raw materials, labor, overhead, and delivery cost. In determining the fair market price, the purchasing agent shall determine if the fair market price is within ten percent (10%) of the average price estimates or quotes using one (1) or more of the following:
(1) Available information from reliable market sources.
(2) A market survey from a person designated by the committee.
(3) Previous contract prices.
(4) The range of bids from the most recent solicitation, including a determination of:
(A) the median price of the bids;
(B) the average price of the bids; and
(C) any market conditions or specifications that have changed since the most recent solicitation.
As added by P.L.49-1997, SEC.1. Amended by P.L.46-2007, SEC.4; P.L.37-2018, SEC.2.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-22-13-5
What does Indiana Code § 5-22-13-5 cover?
Section 5-22-13-5 ("Supplies and services must meet specifications; determination of fair market price") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 5-22-13-5?
A common citation format is "Indiana Code § 5-22-13-5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 5-22-13-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.