Small Purchases ($20,000 - Bid Limit)

 

Small Purchases Over $20,000 Require Multiple Quotes

Any purchase under the appropriate bid limit for that commodity is a small purchase.The Chief Procurement Office of Higher Education has established rules regarding purchases over $20,000 and under bid level ($100,000 for most types of procurements): Rule 4.2020 - Purchases over $20,000 - quotes must be sought from multiple vendors, be in writing, promote small and diverse businesses, and be maintained in the procurement file.

Multiple Quotes for Small Purchases Process:

• This affects purchases > $20,000 and under bid level Expenditure Guidelines
• 3 or more quotes are required and must be submitted with the requisition and the lowest responsive quote should be selected. If only one vendor can provide service/product (i.e. software maintenance, speakers, subscriptions), submit a single source justification form with the requisition. If a vendor is selected who is not the lowest cost, a justification statement must be submitted with the requisition to purchasing for review. An attached email or Word document containing the statement is sufficient to include with the requisition.
• At least one quote must be from a certified diverse vendor. Guide to find certified diverse vendors can be found here.

To learn more about diverse vendor certifications and ISU's supplier diversity program, see our Supplier Diversity page.