Financial Services

Competitive Bid Process

The board of governors policy purchase materials and services clearly outlines the requirements for the competitive bidding process required as drivien by the value of the materials and services you are procuring.

Material and Non-consulting Services Under $100,000

  • Procurement Services recommends using the Request for Quotation form (RFQ) for soliciting quotes for materials and services that are under $100k:
    • Up to $10,000 – at the discretion of the Procurement Services Buyer
    • $10,001 to $25,000 – two verbal quotes minimum, three preferable with the awarded quoted documented in writing.
    • $25,000 to $100,000 – minimum of three formal quotes, five preferable or advertised opportunity preferably from a pre-qualification process.

Securing written quotations is a sound method of obtaining prices, maintaining good supplier relations, and ensuring economical use of University funds.

Procurement Services encourages using the RFQ form when obtaining prices because it provides a degree of fairness, all suppliers are given the same information and the same amount of time to reply.

Material and Non-consulting Services Over $100,000

Materials and Services exceeding $100k must be competitively bid through an open electronic system for at least 15 calendar days. Procurement Services facilitates the process with the requisitioner(s) evaluating and selecting the winning proposal. Please contact Procurement Services to discuss your requirements.

Consulting Services

Consulting services involves expertise or strategic advice that is presented for consideration and decision making.

Competitive quotes must be obtained for consulting services regardless of value, or signed off by the President/Board of Directors:

  • $0 up to, but not including, $100,000 – minimum of three quotes or advertised opportunity
  • $100,000 or more – advertised opportunity preferably using a pre-qualification process

Review the Procurement Process workflow for further assistance.