A Request for Quotation (a bid) is the means of inviting price quotations from vendors via a list of materials, supplies, equipment and/or service specifications that the University intends to order.
Criteria for Use - Competitive Bidding
During the normal course of business, purchases acquired under competitive bidding will normally be categorized by the following criteria:
- Any item in a category for which substantial savings were achieved in the past from competitive bidding. (e.g., capital equipment, furniture, etc.)
- Any item known from experience to vary in price between vendors or to fluctuate in price over time. (e.g., paper, oil, natural gas, etc.)
- Any items of sufficient dollar volume to offer large potential savings from bidding. (e.g., construction projects, etc.)
- Any items that can be combined with other like purchases to benefit from quantity (bulk) purchase terms and thereby benefit the entire University. (e.g., office supplies, janitorial supplies, facility supplies, etc.)
Selecting a Vendor from Bids (Value Purchasing)
In selecting a recommended vendor after an item is bid, price, quality, service, and delivery time are evaluated.