General Requirements: The contractor shall provide live auction services for the Missouri State Treasurer’s Office in accordance with the provisions and requirements stated herein, on an as needed, if needed, basis. The contractor shall either provide the services directly or shall provide a person/personnel who must comply with the requirements stated herein. Therefore, references to “the contractor” throughout this document shall also be deemed to include the person/personnel provided by the contractor. The contractor shall devote time and effort to the auction(s) as is necessary to effectively fulfill the custodial function of the state agency. The state agency shall make no guarantee as to the minimum or maximum number of auctions that may be required annually. The contractor shall understand and agree that at any time during the contract, the state agency may choose to utilize on-line auction services for any portion of the safe deposit box contents received. In the event of such, the contractor shall not be entitled to payment for any items sold by the state agency through an on-line auction service. As requested by the state agency, the contractor shall make available an online bidding option for some or all of the items available for sale at live auctions. The contractor shall understand and agree items cataloged for a live auction and sold to online bidders shall fall under the same compensation percentage as if the item were sold to a live auction bidder.
