The purchasing function at Loyola is governed by strict regulatory requirements established at federal, state, and local levels, as well as internally.  Policies and procedures meet standards set by these laws and statutes.   Key legislation related to purchasing requirements for non-federal entities receiving federal swards is found in the Uniform Guidance (UG) set the U.S. Office of Management and Budget's (OMB) Code of Federal Regulation, and can be found at www.ecfr.gov.

Loyola is required to document the basis of its procurement, including vendor selection.  Details are in the Procurement/Buyers Action Matrix (https://www.luc.edu/media/lucedu/purchasing/pdfs/buyer_matrix.pdf).  Note that any contractor or vendor which assists in drafting specifications for a controlled bid (e.g. Request for Proposal or Request for Quote) must be excluded from competing for those opportunities. Bid specifications cannot have unreasonable or overly restrictive requirements meant solely to limit competition. 

Regulations address Micro-purchases (where the aggregate dollar amount doesn't exceed $5,000), noting competitive quotes are not required at that dollar level if the price is determined by management to be reasonable.  Small Purchases (up to the Simplified Acquisition threshold of $250,000) require a minimum of three quotes.  For purchases over $250,000, a formal solicitation of competitive proposals is required. For purchases from a supplier deemed a "sole source".  Note that UG no longer accepts "Continuity of research” as justification.