Research Foundation procurement policy requires transactions be conducted in a manner as to provide, to the maximum extent practical, open and free competition.
When a purchase is less than $50,000.00, discretionary purchasing without formal competition is permitted but may require justification for the selection and reasonableness of price.
The purchase of equipment, supplies, or services valued over $50,000.00 requires a formal solicitation process as follows:
The three different types of bids or proposals involved in the solicitation process are verbal, written, and sealed.
Whenever a sole source or single source vendor is utilized, the Principal Investigator must complete the Single/Sole Source Form to certify the conditions by which the procurement meets the criteria to forgo the bidding process.
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