|
Effective
December 1, 2000, Old Dominion University Research Foundation has revised
its procurement procedures. The following guidelines apply to procurement
transactions:
| Dollar
Value of Purchase |
Quotations
Required |
| $500
or under |
Small
Purchase Procedures – No quotation required. The use of limited
purchase orders $150 or $500) is recommended to expedite this type
of purchase.
|
| $501
to $2,000 |
No
quotations are required. Submit standard requisition to ODU Research
Foundation Purchasing.
|
| $2,001
to $10,000 |
Three
quotations required. Telephone, internet or catalog references are
acceptable.
|
| $10,001
to $100,000 |
Three
written quotations are required. Written quotations must be attached
to requisition when submitted.
|
| Over
$100,000 |
Sealed
bids. The Principal Investigator must provide written specifications.
ODU Research Foundation Purchasing shall coordinate bid proposal
and reward process. |
State
and GSA Contracts – Any item covered by a Commonwealth of Virginia
or General Service Administration (GSA) contract, regardless of the
dollar amount, is exempt from the above guidelines.
Single
Source Justification – Justification of single or sole source should
include unique performance factors of the product specified, why these
specific factors are required and what other products have been examined
and why rejected. Equipment component or compatibility justifications
must identify the compatible equipment and vendor from whom purchased.
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