Quotes needed for purchases of $10,000 to $49,999

The federal regulations, 2 CFR 200, Uniform Guidance (UG), for external sponsored projects has been updated. Although much of the UG took effect on Dec. 26, 2014, the government delayed implementation of the procurement sections.

Procurement guidance focuses on increased competition and transparency in the procurement process. The UG section 200.320(a) and (b), which address required documentation for purchases on external sponsored projects, warrant changes in Michigan Tech’s current procurement practices.

Effective July 1, purchases of $10,000 to $49,999 on external-sponsored projects require two or more quotes from qualified suppliers. A listing of all procurement thresholds is available on the Purchasing website. It is of particular importance to note that reallocations of expenditures to external sponsored projects will not be allowable if two or more informal quotes were not attained at the time of purchase. We encourage applying these guidelines now as it may prove to be beneficial for the PI and the department.