Procedures
Requirements for Competition and Links to Additional Guidance
Under the Code of Federal Regulations (Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards--“Uniform Guidance”) and by Federal Acquisition Regulations (FARs), Loyola is required to establish a competitive environment for the purchase of goods and services. The Competitive Threshold for purchases at LUC is $5,000. Purchases equal to or exceeding this amount require the establishment of competition. Buyers and Users are required (where multiple vendors can be identified) to solicit competitive bids or proposals, and to make the purchase from the lowest evaluated responsible supplier. All non-competitive acquisitions at or above the Competitive Threshold must be adequately and appropriately justified and documented. LUC's Pre-Qualified Suppliers are evaluated regularly to ensure their prices, service, and quality are at competitive levels. In most cases, an order totaling $250,000 or less to be placed with a Pre-Qualified Supplier requires no further bidding.
Additional guidance on proper procurement mechanisms can be found on the Requisition Guidelines page. For information on the Procard program, see http://www.luc.edu/finance/procard.shtml. The Manual (https://www.luc.edu/purchasing/purchmanual/index.shtml) details our policies and procedures, including collaboration with Sponsored Program Accounting (SPA).
Requirements for Competition and Links to Additional Guidance
Under the Code of Federal Regulations (Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards--“Uniform Guidance”) and by Federal Acquisition Regulations (FARs), Loyola is required to establish a competitive environment for the purchase of goods and services. The Competitive Threshold for purchases at LUC is $5,000. Purchases equal to or exceeding this amount require the establishment of competition. Buyers and Users are required (where multiple vendors can be identified) to solicit competitive bids or proposals, and to make the purchase from the lowest evaluated responsible supplier. All non-competitive acquisitions at or above the Competitive Threshold must be adequately and appropriately justified and documented. LUC's Pre-Qualified Suppliers are evaluated regularly to ensure their prices, service, and quality are at competitive levels. In most cases, an order totaling $250,000 or less to be placed with a Pre-Qualified Supplier requires no further bidding.
Additional guidance on proper procurement mechanisms can be found on the Requisition Guidelines page. For information on the Procard program, see http://www.luc.edu/finance/procard.shtml. The Manual (https://www.luc.edu/purchasing/purchmanual/index.shtml) details our policies and procedures, including collaboration with Sponsored Program Accounting (SPA).