.03 Contracts Voidable for Noncompliance.

A. The Board may determine that a void procurement contract is voidable if the Board determines that:

(1) All parties have acted in good faith;

(2) Ratification of the procurement contract would not undermine the purposes of this title; and

(3) The violation, or series of violations, was insignificant or otherwise did not prevent substantial compliance with this title.

B. If the Board determines that a procurement contract is voidable under §A and that the contractor has not acted in violation of this title, the procurement agency:

(1) May ratify the contract if the procurement agency determines that ratification is in the best interest of the State; or

(2) May void the contract and award the contractor compensation for actual expenses reasonably incurred under the contract, plus a reasonable profit.

C. If the Board determines that a procurement contract is voidable under §A and that the contractor has acted in violation of this title, the procurement agency:

(1) May void the contract; or

(2) Without prejudice to the State's right to appropriate damages, may ratify the contract if the procurement agency determines that ratification is in the best interests of the State.