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Procurement Price Quotes
Use the table below as a guide to when and how you need to competitively seek price quotations for goods and services needed to complete your project activity.
| Procurement Type | Threshold | Competitive Quotations | Method to Follow | |
|---|---|---|---|---|
| Micro purchase [1] | $0 -- $9,999 | Not required | Follow your internal procurement policies that are consistent with the federal requirement that you: | To the extent practicable, distribute micro-purchases equitably among qualified suppliers. Micro-purchases may be awarded without soliciting competitive quotations if you consider the price to be reasonable. [2]
|
| Simplified acquisition [1] | $10,000 -- $249,999 |
Required | Obtain price or rate quotations from an adequate number of qualified sources. [3]
|
|
| By sealed bid | $250,000 -- | Through formal advertising, invite sealed bids
|
In conformity with 2 CFR 200.320 (c) | |
[1] See June 20, 2018, letter from Tim Soltis, Office of Management and Budget, raising micro purchase and simplified acquisition thresholds to $10,000 and $250,000.
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