Purchasing Fiscal Policy Training

1. Purchasing Fiscal Policy Training Purchasing � Bidding Requirements https://my.tennessee.edu/portal/page?_pageid=34,34235&_dad=portal&_schema=PORTAL

3. Bidding LimitsPurchases of Less Than $5,000 Purchases of goods or services of less than $5,000 may be made by departments based on their discretion. Departments may not artificially divide purchases so as to appear the purchase is less than $5,000 or to make multiple purchases or request multiple invoices for single purchases of identical goods or modular components from the same vendor.

4. Purchases Between $5,000 and $25,000 All Purchases between $5,000 and $25,000 will be made by the purchasing department. With the exception of non-competitive purchases (i.e., sole � source, proprietary, or emergency), vendor selection will be based on the solicitation of informal competitive price quotations from at least three sources. Informal bids may be obtained in writing, by facsimile, or by telephone.

5. Purchases Between $5,000 and $25,000 Emergency Purchases Justification for an emergency purchase may occur when time is limited and products or services are needed to protect the lives or health of persons, to prevent or minimize damage to university property, or to meet other critical requirements.

6. Purchases Between $5,000 and $25,000 Other Non-Competitive Purchases The purchasing will classify a product or service as non-competitive when competitive methods are not feasible or practical. Only one product or service can meet the specific need and the required product or service is available from only one source. Compatibility or consistency with past acquisitions of products or services is essential.

7. Purchases of $25,000 and Higher The purchasing department is solely responsible for all purchases of $25,000 and higher based on competitive prices by soliciting written sealed bids form 15 vendors or the number of vendors on the Qualified Bidders List. The purchasing department must approve the solicitation of fewer than 15 bids.

8. Purchases of $25,000 and Higher A public opening of the bids received will be held at the time and date specified on the bid solicitation request.

9. Purchases from Existing Contracts with Vendors State Contracts with Vendors The university is required by law to use state contracts whenever the contract price is lower than that obtained by the university. Purchases made from the state contracts do not require competitive bids.

10. Purchases from Existing Contracts with Vendors University Contracts with Vendors The campus purchasing departments have established term contracts for a variety of supplies and services. Purchases under term or university contracts do not have to be bid since vendor selection for these contracts is based on bid results.

11. Purchasing Fiscal Policy Training Thank you for attending the purchasing training. If you have any questions, please contact: Wanda Griffin 881-7815