Indefinite Quantity Contracts: Difference between revisions
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== Definitions == | == Definitions == | ||
Revision as of 12:38, 5 October 2011
Policy 509.21
Introduction
Scope
Definitions
Policy and Procedure Statements
General
An indefinite quantity contract will be established by the Purchasing Department for requests for repetitive purchases of specific types of supplies from a single vendor over a specified period of time where the total amount exceeds $5000.
Competition will be solicited where available and a contract established with the lowest responsive bidder.
An indefinite quantity contract must not exceed the $150,000 university benchmark in total expenditures over a one year period. The contract will end when the benchmark is reached. A request for an indefinite quantity contract which exceeds, or is likely to exceed, $150,000 will be forwarded to Purchases and Contract Division for processing.
Information Required
With the exception of the dollar amount, a request for an indefinite quantity contract is very similar to a blanket purchase order, and it requires the same type of information (see PURCHASING Policy 14) .
Budgetary Action
Budgeting, invoicing and billing actions are also essentially the same as for a blanket purchase order (PURCHASING Policy 14).
Additional References
Authority
Contact Information
Effective Date
Revision Dates
Last modified 04/08/2011 08:55:49 AM by Matt McNaney