Procurement Purchasing Request and Rental and Lease of Equipment: Difference between pages

From Appalachian State University Policy Manual
(Difference between pages)
imported>Deaskc
 
imported>Deaskc
 
Line 1: Line 1:
Policy 501.13
Policy 509.15
 
== Introduction ==
== Introduction ==


== Scope ==
== Scope ==


== Definitions  ==
== Definitions  ==
Line 10: Line 8:
== Policy and Procedure Statements  ==
== Policy and Procedure Statements  ==


Refer to Accounting Policy Section 14 for details on the uses of requesting payment using the procurement request.
=== Necessary Bidding and Approval ===
 
4.1.1 The purchase of equipment is encouraged, in lieu of leasing or rental when feasible. Departmental requests to lease equipment are submitted to the Purchasing Office on a procurement request. The request should be accompanied by a memorandum explaining the need for leasing rather than purchasing, a copy of the leasing agreement, and any other communication available concerning the request. The Purchasing office will forward the procurement request and other material to the State Purchase and Contract Division for review.
'''This form requires a "minimum" of two signatures, one being the Department Head and then second being the Dean of College/ or Authorized Signature.'''


=== Procedure Steps ===
=== Lease/Purchase Agreements ===
#Date of the request.
Lease agreements are for a definite period of time, usually one to three years, and cannot be canceled during the life of the lease. However, a lease may be entered into with the option to purchase the equipment during the life of the leased or at the end of the lease period. If it is determined that the leased equipment will be needed on a continuing basis, it is usually more economical to exercise the option to purchase, provided funds are available to make the purchase.
#Department Number, enter any departmental number required as a point of reference for your records.
#Person Originating Request.
#Department, name of department requesting the service.
#Requested Date of Delivery, enter the date this service should be received by the department.
#Check Distribution, indicate the date the associated check should be received and the location where the check should be sent. Include any specific instructions needed on documents that should accompany the check to be written and sent to the payee.
#Vendor, enter the payee's official company/person's name and complete mailing address.
#Vendor Number, if known include the company's federal tax ID or individual's social security number because this is required before a University check can be written.
#Service(s) being Requested, enter the following information for each service being paid for:
##Item Number, consecutive number assigned to each requested service;
##Quantity, number of services being requested;
##Unit, unit of measure for the service being requested (each, dozen, pair, gross, etc.);
##Description, a detailed description of the service being requested on the item number/line;
##Unit Price, the actual unit price for this service;
##Total Prices, the extended price for each item number/line, and
##Total, a total of all extended prices on this Procurement Request.
#Enter the 12 digit ASU SL account number(s) that will be charged with this disbursement.
#Secure two signatures of the persons assigned the responsibility of approving all financial transactions that are to be posted to the SL account(s) indicated as well as the date that each approver signs this request.
#Secure the signature(s) of any other required approvers for the SL account(s) indicated.


4.1.1 Once the Procurement Request is completed it must be sent to the appropriate division of the ASU Controller's Office where the document will be reviewed for accuracy, completeness, validity, and for an adequate budget balance available to pay for the service.
=== Rental Agreements ===
Rental requests should be submitted to the Purchasing Department on a procurement request with an explanation justifying the need for the rental, a copy of the rental agreement, and any other communication concerning the request. The Purchasing Office will forward this material to the State Purchase and Contract Division for review and action.


4.1.2 The Controller's Office will have the check written to arrive at the desired location at the desired date if everything on the request is in order. If there are problems with the request, the Controller's Office will either call or return the document noting the problem found and any action required on the part of the requestor in order to have the check written.
=== Reasons for Renting ===
It may be desirable to rent equipment for a short duration for a specific requirement. Rental agreements are similar to lease agreements, except that rental agreements are normally for an indefinite period and can be terminated by the rentee after giving notice, usually thirty days in advance. The initial cost of some equipment, such as computers, is so great that when this type of equipment is required, it may be more economical to rent on a continuing but indefinite basis. Also, new, updated versions of this type of equipment are constantly placed on the market, making it unwise to invest large sums in equipment which may soon be obsolete.


== Additional References ==
== Additional References ==

Revision as of 16:18, 6 January 2012

Policy 509.15

Introduction

Scope

Definitions

Policy and Procedure Statements

Necessary Bidding and Approval

4.1.1 The purchase of equipment is encouraged, in lieu of leasing or rental when feasible. Departmental requests to lease equipment are submitted to the Purchasing Office on a procurement request. The request should be accompanied by a memorandum explaining the need for leasing rather than purchasing, a copy of the leasing agreement, and any other communication available concerning the request. The Purchasing office will forward the procurement request and other material to the State Purchase and Contract Division for review.

Lease/Purchase Agreements

Lease agreements are for a definite period of time, usually one to three years, and cannot be canceled during the life of the lease. However, a lease may be entered into with the option to purchase the equipment during the life of the leased or at the end of the lease period. If it is determined that the leased equipment will be needed on a continuing basis, it is usually more economical to exercise the option to purchase, provided funds are available to make the purchase.

Rental Agreements

Rental requests should be submitted to the Purchasing Department on a procurement request with an explanation justifying the need for the rental, a copy of the rental agreement, and any other communication concerning the request. The Purchasing Office will forward this material to the State Purchase and Contract Division for review and action.

Reasons for Renting

It may be desirable to rent equipment for a short duration for a specific requirement. Rental agreements are similar to lease agreements, except that rental agreements are normally for an indefinite period and can be terminated by the rentee after giving notice, usually thirty days in advance. The initial cost of some equipment, such as computers, is so great that when this type of equipment is required, it may be more economical to rent on a continuing but indefinite basis. Also, new, updated versions of this type of equipment are constantly placed on the market, making it unwise to invest large sums in equipment which may soon be obsolete.

Additional References

Authority

Contact Information

Effective Date

Revision Dates

Retrieved from "https://policy.appstate.edu/index.php?title=Procurement_Purchasing_Request&oldid=10896"