PURCHASING PROCEDURE 5
SUBJECT: Informal Price Quotations
GENERAL: For purchase of items that, in aggregate, cost less than $250, formal bid solicitation procedures are unnecessary. In such cases, the purchasing officer should obtain informal price quotations by telephone or face to face inquiry. Price quotations should be obtained from different vendors, if possible.
STEPS: Purchasing Officer
1. Upon receipt of purchase requisition from the HOME staff, the purchasing officer identifies vendors.
2. Telephone calls or personal inquiries are made to identified vendors.
3. The Informal Price Quotation Form shown in Exhibit 2 should be completed for each price quotation entering the following information. (Note: The form may be used to obtain multiple item quotations from the same vendors.)
1. Requisition Number
2. Purchase Order Number (after issuance)
3. Department
4. Date
5. Item Descriptions
6. Units of Measure
7. Price Quotations
8. Vendors' Names and Addresses
9. Vendor Contact Person
10. Discount Terms
11. Delivery Date
12. FOB Point
4. Issue purchase order to the most advantageous and qualified vendor.