Policy No.: 104.6
Revision No.: 
Effective Date: 5/1/2005
Category: Purchasing
Title: Competitive Bidding

Bid policy for the university is as follows:

All acquisitions of goods or services (with or without a contract or lease involved) that total over $10,000 must be transacted with at least two (2) bids being obtained. It is recommended, however, that for orders over $25,000 that a total of between three (3) to five (5) bids be obtained, but two (2) shall be the minimum. Bidding can be waived if the item or service being provided is being provided by a university preferred vendor (i.e. a vendor listed on the Procurement Department’s preferred vendor list) or if the vendor is a sole provider of the good or service in question. Additionally, bids involving contracts or leases that total over $250,000 must be approved by the President of the University and bids involving contracts or leases that total over $500,000 must be approved by the Board of Regents.

(5/2005)