Competitive Quotes/Sealed Bid Requirements
In accordance with Purchasing Regulation 13.0010R "Administration and Finance: Purchasing Program", the formal sealed bid requirement is $50,000. The purchasing office has established the following guidelines for the purchase of commodities and services costing less than $50,000.
Data
| < $10,000 |
Stated vendor's price quotation
Processing time: 1-3 working days |
| $10,000 to $24,999 |
A minimum of two competitive written or faxed quotations on University quotation form[doc]
Processing time: 3-10 working days |
| $25,000 to $49,999 |
Three or more competitive written or faxed quotations on University quotation form
Processing time: 5-14 working days |
| > $50,000 |
Formal sealed bid, Request for Proposal or Invitation to Negotiate
Processing time:
Invitation to Bid = 6 weeks
Request for Proposal = 8 weeks
Invitation to Negotiate = up to 6 months |
** It is the responsibility of the buyer in the purchasing department to ensure competitive quotations are obtained for purchase requests at the required dollar thresholds. Departments may obtain competitive quotes that must be equal relative to the day and time quote is due, specifications, and delivery. If a department chooses to obtain competitive quotes, all quotes must be submitted as documentation with the requisition. The purchasing department has the right to obtain additional quotes if it is determined to be in the best interest of the University.
Exemptions from the Competitive Bid Process [doc]
