Bids and Quotes
RFP 19-17 Financial Services/Banking, Due:
October 20, 2016; 2:00PM (ET) November 1, 2016; 2:00 PM (ET)
Sealed bids are processed when the estimated amount of purchase equals or exceeds $40,000.00 (state funds) and $25,000 (federal funds). In addition, the Division of Purchases advertises bid openings in a newspaper of general circulation in the state or this web page, to be designated by the Division of Purchases. The announcement of bids to be published on the website or in the newspaper shall contain the following information:
The invitation number
The name of the University
General description of items to be purchased.
Place from which the list of items, terms, and specifications can be obtained.
The notice is published not less than seven (7) days. Bid must be received in the Purchases & Stores office prior to the designated time and date. The Invitation For Bid must be signed in ink to be considered. Bids not conforming to this requirement are subject to rejection. Prices shall be submitted on a delivered prepaid basis F.O.B. destination shown in the shipping instructions of the invitation, unless otherwise stated in the invitation.
Bids and proposals shall be enclosed in a sealed envelope. The solicitation number, opening date, and the name and address of the offeror must appear on the face of the envelope.
Purchases up to $5000- one (1) quote
Purchases over $5,000 up to $24,999 - three (3) quotes
Purchases over $25,000 - contact Purchasing Office
Small Construction/Trade Services Project Quote Requirements:
Total Cost less than $20,000 - one (1) quote
Total Cost between $20,001 - $39,999 - formal quote process- contact Purchasing Office
Total Cost over $40,000 - contact Purchasing Office
Departments should send copies of quotes obtained to Purchasing. Whenever possible quotes should include the Banner requisition number. Telephone quotes are acceptable but should be documented and signed by the individual who obtained the quote. The Purchasing Officer will obtain additional quotes or process a bid when it is in the best interest of the University.