(1) Competitive bid forms pursuant to ARM 42.12.502 must be submitted electronically on a form provided by the department.

(2) The deadline to submit a bid is ten business days from the date of the last publication notice required in ARM 42.12.502(3).

(3) A bidder will be disqualified from the competitive bidding process if:

(a) the competitive bid form is not received on or before the deadline;

(b) the processing fee is not received on or before the deadline;

(c) the competitive bid form is not signed;

(d) any individual listed as an owner, partner, member, officer, or director is younger than 19 years of age at the time of the competitive bid closing;

(e) the competitive bid form is incomplete;

(f) the bidder's bid amount is less than the minimum bid amount;

(g) the bidder fails to include an irrevocable letter of credit from a financial institution;

(h) the irrevocable letter of credit fails to identify the department as the beneficiary;

(i) the irrevocable letter of credit is not equal to or greater than the bidder's bid amount;

(j) the irrevocable letter of credit fails to specify the license type and/or quota area; or

(k) the department determines, for any other reason, the information provided is inaccurate or incomplete.