Purchases should be made after consideration of price, quality, service and delivery. Obtaining quotes and bids for purchases encourages competition among suppliers and allows the buyer to make an informed and objective choice among potential suppliers. To ensure that we follow good business practice and act as responsible stewards of University funds, the Purchasing Department encourages the use of the following guidelines.
- Purchases <$5,000 - routine price checking.
- Purchases between $5,000 and $10,000 - obtain three verbal quotes. Include the following for each quote in the justification section of the requisition:
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Company name
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Name of individual preparing the quote
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Quote amount
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- Purchases between $10,000 and $25,000 - obtain three written quotes. Attach the quotes in the justification section of the requisition.
- Purchases greater than $25,000 - obtain three written bids. A formal bid process should be used. Attach all documentation from the bid process in the justification section of the requisition.
- There may be specific instances where obtaining multiple quotes or bids is not feasible. This includes situations where a particular supplier is the only source for an item or service, or when a particular supplier must be used due to special circumstances.
- Grants may have specific or more stringent requirements for the use of quotes and bids. It is very important that all requirements listed in the grant are followed exactly. Grant recipients must familiarize themselves with the specific requirements in their grant. Assistance is available from the Department of Procurement Services if needed.