Pro-Purchases Requiring Three Quotes
procedure policy purchases purchase requiring require three 3 quotes quotations modified Mon Oct 17 2022 14:49:43 GMT-0400 (Eastern Daylight Time)
University of Louisville
Purchases Requiring Three Quotes
March 1, 2018
This procedure applies to all University departments and employees (Administrators, Faculty, and Staff).
REASON FOR PROCEDURE
To improve the processes of how the University procures goods and services and to reduce cost and provide better reporting of assets and maintain the needed level of quality.
The University of Louisville (University) requires departments and employees to obtain three quotes from vendors when procuring goods and/or services that total between $20,000 and $39,999.
Effective July 1, 2021, employees making purchases on behalf of their departments and the University that fall within the three-quote process, must obtain at least one quote from a Minority Owned Business Enterprise (MBE) or Women Owned Business Enterprise (WBE).
The following steps must be followed when procuring goods and services that total between $20,000 and $39,999:
- Obtain three quotes from vendors. At least one quote must be from a MBE or WBE. For government agency purchases refer to the resource Refer to the resource guidance.
- Attach the quote documentation to the purchase requisition form.
Vice President for Finance and Chief Financial Officer
RESPONSIBLE UNIVERSITY DEPARTMENT/DIVISION
Sally Molsberger, Chief Procurement Officer
Service Complex, University of Louisville
Louisville, KY 40292
Revision Date(s): July 1, 2021
The University Policy and Procedure Library is updated regularly. In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.