Condensed Purchasing Rules

Questions on the following should be directed to Purchasing at x5-2811.

PURCHASES < = $5,000

Most purchases in this range may be purchased by the departments.

Please refer to the “Small Dollar Policy”

http://www.ou.edu/purchasing/home/pcard/Small%20Dollar%20Policy.doc

PURCHASES > $5000 but < = $50,000

A requisition must be entered into the financial system, approved, and forwarded to Purchasing for action. 

Purchasing utilizes an informal solicitation procedure to acquire bids and involves the requisitioning department in the evaluation and award decision.  This process normally takes 2 - 4 weeks.

PURCHASES > $50,000

A requisition must be entered into the financial system, approved, and forwarded to Purchasing for action. 

Purchasing utilizes a formal solicitation procedure to acquire bids and involves the requisitioning department in the evaluation and award decision.  This process normally takes 3 - 6 weeks.  Purchases > $250,000 must be approved by the Board of Regents prior to award and this can extend the time dramatically. 

Please refer to the following link for Regents' meeting dates: http://www.ou.edu/purchasing/home/regents/2008_REGENTS_MEETING_DATES.pdf