60.10 - Requests for Quotations (RFQs)
- Position: Purchasing Services Director
- Name: Julia McIlroy
- Email: firstname.lastname@example.org
Last updated: November 05, 2007
A. General. The issuance of Requests for Quotations (RFQ) is a method of soliciting offers from vendors in order to establish pricing, specification or performance standards, and the terms and conditions for the purchase of goods or services. [rev. 11-07]
B. Procedure. For purchases totaling no more than $50,000 per order, a RFQ may be used, either by Purchasing Services or by the department itself. To the extent possible, quotations must be solicited from a minimum of three responsible and responsive vendors in a fair and ethical process.
B-1. Quotation Solicitation. Such RFQs shall include:
- Clearly defined specifications for the purchase of goods or a complete statement of work to performed for the purchase of services.
- University's General Terms and Conditions [See APM 60.06].
- Required delivery or completion schedule.
- Any other provisions, procedures, or statement, as deemed necessary by the Purchasing Services’ Manager.
- RFQs shall allow sufficient time, as deemed appropriate by the Buyer, to permit prospective vendors to prepare and submit RFQ responses.
B-2. Standard Specifications. Specifications contained in the RFQ will, where practical, be non-restrictive so as to provide an equal basis for competition and participation by an optimum number of qualified vendors. Unless otherwise stated, reference to any equipment, materials or supplies by trade name, make, or catalog number shall be regarded as establishing a standard of quality and shall not be construed as limiting competition. The final decision as to whether an item is an equivalent or a satisfactory alternate shall rest with Purchasing Services [See APM 60.46].
B-3. Opening of Quotes. RFQs are not required to be sealed and are not opened in a public manner. RFQ responses are generally opened and recorded as they are received. Vendor responses should be received prior to designated opening date and time in order to be considered.
B-4. Evaluation of Quotes. Award should be made to the lowest responsive, responsible vendor whose offering meets the following criteria:
- The lowest price.
- Conformity to the specifications or minimum acceptable requirements of the RFQ.
- Agreement to the University's terms and conditions as described within the RFQ.
- Such other information as may be secured having a bearing on the decision to award the contract.
B-5. Quotation Solicitation Records. For each RFQ issued by UI, Purchasing Services shall retain a record which should include a copy of the RFQ, a list of all vendors receiving the RFQ, all vendor responses, and any other information prepared or received during the quotation process. This record shall be available for public inspection.
C. Award of Contract. The contract will be awarded on the basis of the best vendor response to the RFQ as defined in these policies, or as Purchasing Services’ Manager may determine to be in the best interests of UI.