Competitive Quotes/Solicitation Thresholds
In accordance with Procurement Regulation 13.0010R "Procurement Services: Procurement Program," the formal competitive solicitation threshold is $150,000. Procurement Services has established the following guidelines for the purchase of commodities and services.
| Price | Guideline |
|---|---|
| $0.01 to $9,999.99 | Minimum of one (1) supplier quote/estimate |
| $10,000.00 to $74,999.99 | Minimum of two (2) supplier quotes/estimates |
| $75,000.00 to $149,999.99 | Minimum of three (3) supplier quotes/estimates |
| $150,000.00 or more | If not otherwise exempted or available on an existing contract, a formal competitive solicitation process will be conducted (ITB, ITN, RFP or RFQ) by 老澳门资料 Procurement Services |
Departments are responsible for obtaining and submitting quotes as documentation supporting all purchases by Requisition, iContract, Purchasing Card, or Direct Pay. Quotes from different suppliers must be equal in scope, that is, different quotes must equally provide sufficient 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.
All Purchase Orders issued must follow the above regulations for competitive quotes and solicitation thresholds. It is the department’s responsibility to manage PO spend and to submit any required change orders in a timely fashion, if required. Changes that exceed competitive quote or solicitation requirements will require acceptable justification.