Competitive Quotes/Sealed Bid Thresholds
In accordance with Purchasing Regulation 13.0010R "Administration and Finance: Purchasing Program", the formal sealed bid threshold is $75,000. Procurement Services has established the following guidelines for the purchase of commodities and services costing less than $75,000.
||Stated vendor's price quotation
||A minimum of two competitive written quotations.
||A Miminum of three or more competitive written quotations.
||If not otherwise exempted or available on an existing contract, a
formal bid process will be conducted via RFB/ITB, RFP, RFQ, or
ITN (process can take 6 weeks to 6 months to complete, depending
on the complexity of the goods/services needed).
It is the responsibility of the requesting Department to obtain quotes and submit them as documentation supporting the Requisition or iContract document. Quotes from different vendors must be equal in scope (details for goods/services needed) and delivery specifications. Procurement Services 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