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Difference between revisions of "Indefinite Quantity Contracts"
From Appalachian State University Policy Manual
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=== General === | === 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. | + | 4.1.1 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. | + | 4.1.2 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. | + | 4.1.3 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 === | === 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) . | + | 4.2.1 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 === | === Budgetary Action === | ||
| − | Budgeting, invoicing and billing actions are also essentially the same as for a blanket purchase order (PURCHASING Policy 14). | + | 4.3.1 Budgeting, invoicing and billing actions are also essentially the same as for a blanket purchase order (PURCHASING Policy 14). |
== Additional References == | == Additional References == | ||
Revision as of 17:50, 6 January 2012
Policy 509.21
Contents
1 Introduction
2 Scope
3 Definitions
4 Policy and Procedure Statements
4.1 General
4.1.1 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.
4.1.2 Competition will be solicited where available and a contract established with the lowest responsive bidder.
4.1.3 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.
4.2 Information Required
4.2.1 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) .
4.3 Budgetary Action
4.3.1 Budgeting, invoicing and billing actions are also essentially the same as for a blanket purchase order (PURCHASING Policy 14).
