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Difference between revisions of "Indefinite Quantity Contracts"

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(Policy and Procedure Statements)
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Policy ____ [''Number from Table of Contents'']
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Policy 509.21
 
== Introduction ==
 
== Introduction ==
 
You may copy this page's source to start a new policy page. Be sure to remove or overwrite the examples. Second level headings should NOT be altered.
 
You may copy this page's source to start a new policy page. Be sure to remove or overwrite the examples. Second level headings should NOT be altered.

Revision as of 15:20, 13 June 2011

Policy 509.21

1 Introduction

You may copy this page's source to start a new policy page. Be sure to remove or overwrite the examples. Second level headings should NOT be altered.

2 Scope

3 Definitions

3.1 Definition phrase or word

Definition summary


4 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).

5 Additional References

6 Authority

7 Contact Information

8 Effective Date

9 Revision Dates