Documentation for Purchases over $10,000
A minimum of three competitive bids is required for all capital/infrastructure construction and or renovation projects, preventative maintenance projects, business/administrative project with a projected total cost of $10,000 or more and for any capital equipment purchase over $10,000. [Note that any piece of equipment with a purchase price of $5,000 or above is considered a fixed asset and must be documented and tracked as such. At least one quotation must be obtained for equipment purchases of $5000-10,000.]
Please note that the purchase of any equipment with University funds that already exists within the inventory of a University Resource Center is strictly prohibited and is not an allowable expense.
When soliciting bids/contracts/quotations, employees should
- Coordinate and consult with the Purchasing Department.
- Include only firms that will be considered for award. Do not include firms that are not considered qualified candidates.
- Avoid attempts to influence bidders by providing confidential information. All bid information should be strictly confidential.
- Not disclose pricing to competitive bidders.
- Not take advantage of apparent mistakes in the supplier’s bid.
- Provide all bidders with the same information related to the bid in a timely manner.
- Not shop or conduct auctions for low prices.
Additional information regarding and guidance for soliciting bids/contracts/quotations is available; see the section on “Soliciting bids and quotations,” and the Purchasing Policy, Developing Requests for Proposals, Requests for Quotations and Solicitation Bids.
The Purchasing Department maintains records for capital purchases over $10,000 to document the following:
- Basis for vendor/contractor selection.
- Justification for lack of competition when competitive bids or offers are not obtained. Sole source or preferred vendor justification may be acceptable for scientific and/or technical equipment or for services, e.g., technology that is available from a single source only. (See “Sole Source Justification” form).
- Basis for award cost or price.