Procurement Policy – Procedure Statement

1. The University’s policy on procurement is based on the following thresholds:
   1. <$5,000
      1. At least one verbal submission to be obtained in advance of the P.O. being initiated with a hard copy to follow.
   2. $5,000 to $9,999 (Bid)
      1. A minimum of two verbal submissions must be secured or, if that is not possible, the associated documentation must detail the reason(s) why and the use of a single supplier specifically approved by the President;
      2. All suppliers participating in the process must be qualified;
      3. Contracts may be required;
      4. Purchase Orders and any required Contracts resulting from the process will be stored in the Finance Department as part of the related documentation.
   3. $10,000 to $74,999 (Tender)
      1. A minimum of two formal, written submissions must be secured or, if that is not possible, the associated documentation must detail the reason(s) why and the use of a single supplier specifically approved by the President;
      2. All suppliers participating in the process must be qualified;
      3. All suppliers participating in the process must be notified in writing of the results;
      4. Contracts are required;
      5. Purchase Orders and Contracts resulting from the process will be stored in the Finance Department as part of the related documentation.
   4. $75,000 and over (RFP)
      1. A minimum of three formal submissions secured through the completion of a Request For Proposal process must be obtained or, if the minimum number cannot be obtained, the associated documentation must detail the reason(s) why and approved by the Board of Governors;
      2. All suppliers participating in the process must be qualified;
      3. All suppliers participating in the process must be notified in writing of the results;
      4. Purchase Orders and Contracts resulting from the process will be stored in the Finance Department as part of the related documentation. When a department requires an RFP, a request can be made to Finance and they will assist in issuing the RFP. Finance will work with departments through the RFP process and draft the contract (See Execution of Contracts Procedure Statement) once a vendor is selected.
2. Sole Source: Any sole sourced contract must have the following approvals:
   <$100,000 – approved by the President
   >$100,000 – approved by the Board

A written report will be submitted to the Board of Governors on a semi-annual basis for all sole sourced contracts less than $100,000