Ohio § 5525.04

§ 5525.04.

No bidder shall be given a certificate of qualification unless the bidder's financial

statement and the investigation made by the director of transportation show that the

bidder possesses net current assets or working capital sufficient, in the judgment

of the director, to render it probable that the bidder can satisfactorily execute

the bidder's contracts and meet all contractual obligations.  Any applicant desiring a certificate of qualification in an amount of ten million

dollars or more shall submit on forms prescribed by the director a financial audit

prepared and attested as correct by an independent certified public accountant.  Any applicant desiring a certificate of qualification in an amount that is less

than ten million dollars shall submit a financial review on forms prescribed by the

director.  The aggregate amount of work set forth in either type of certificate of qualification

shall not exceed ten times the applicant's net current assets or working capital.  At the time of award of the contract, a bidder's qualification is determined by

the bidder's qualification amount minus all of the bidder's pending work. Applicants for qualification shall expressly authorize the director to obtain any

information that the director considers pertinent, with respect to the financial worth,

assets, and liabilities of the applicant, from banks or other financial institutions,

surety companies, dealers in material, equipment, or supplies, or other persons having

business transactions with the applicant.  Applicants shall expressly authorize all such financial institutions or other persons

to furnish any such information requested from them by the director.  All information filed with or furnished to the director by applicants or other persons,

in connection with the administration of sections 5525.02 to 5525.09 of the Revised Code , shall be kept in confidence by the director and not revealed to any person, except

upon proper order of a court.  Failure to submit the required information or to expressly grant the director authority

to obtain the required information shall result in the denial of a certificate of

qualification.  The director or the director's subordinates shall have access to the books of account

and financial records of all applicants, unless the financial statement furnished

by any applicant is prepared and attested as correct by a certified public accountant. If an applicant for either type of certificate of qualification is or has been an

employer in this state the application shall be accompanied by satisfactory evidence

that the applicant has complied with Chapter 4123. of the Revised Code. The director may require all qualified bidders to file financial statements at such

intervals as the director prescribes. Sections 5525.02 to 5525.09 of the Revised Code shall be administered without reference to the residence of applicants, and the rules

of the director shall apply equally to residents and nonresidents of this state. Sections 5525.02 to 5525.09 of the Revised Code , do not apply to the purchase of material, equipment, or supplies.