Pro-Purchases Requiring Three Quotes

procedure policy purchases purchase requiring require three 3 quotes quotations modified Wed Jun 22 2022 15:05:28 GMT-0400 (Eastern Daylight Time)

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University of Louisville

OFFICIAL
UNIVERSITY
ADMINISTRATIVE
PROCEDURE

PROCEDURE NAME

Purchases Requiring Three Quotes

EFFECTIVE DATE

March 1, 2018

PROCEDURE NUMBER

PUR-43.00

PROCEDURE APPLICABILITY

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. 

PROCEDURE STATEMENT

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:  

  1. 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. 
  2. Attach the quote documentation to the purchase requisition form. 
ADMINISTRATIVE AUTHORITY

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
502-852-8223
purchase@louisville.edu

HISTORY

Revision Date(s): July 1, 2021

Reviewed Date(s): 

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.