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Procurement Methods
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- *May be used when contract value is less than $10,000
- Must be compliant with 2 CFR § 200.67 and 2 CFR § 200.320(a)
- Micro-Purchases Checklist (Coming Soon!)
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- Also known as 3 Bids and a Buy
- Must be compliant with 2 CFR §200.320)(b)
- *May be used when contract value is less than $250,000
- Small Purchases Checklist (Coming Soon!)
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- Procurement tool used: Invitation for Bid (IFB)
- *Must be used when contract value is greater than $250,000
- Must be compliant with 2 CFR §200.320)(c)
- Sealed Bid Checklist (Coming Soon!)
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- Procurement tool used: Request for Proposal (RFP)
- *Must be used when contract value is greater than $250,000
- Must be compliant with 2 CFR §200.320)(d)
- Competitive Proposal Checklist (Coming Soon!)
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- Must be compliant with 2 CFR §200.320)(f)
- Competitive Proposal Checklist (Coming Soon!)
- *School may have different "simplified acquisition threshold" (i.e., $10,000 maximum for micro-purchases or maximum $250,000 for small purchases). If school has a lower simplified acquisition threshold, the school must use its simplified acquisition threshold for the above purchase methods.