The Chief Procurement Officer may request factual information reasonably available to the bidder or offeror to substantiate that the price or cost offered, or some portion of it, is reasonable when either of the following occurs:
(1) The price is not any of the following:
a. Based on adequate price competition.
b. Based on established catalogue or market prices.
c. Set by law or rule.
(2) The price or cost exceeds an amount established by rule.