This is a statement of Seton Hall University policy on competitive bidding. It is applicable to all University employees. Its purpose is the following:
To furnish guidelines and to confirm when competitive bids need to be obtained when procuring goods and services for the University.
Bid policy for the university is as follows:
All acquisitions of goods or services (with or without a contract or lease involved) that total over $10,000 should be transacted with at least two (2) bids being obtained. It is recommended, however, that for orders over $25,000 that a total of between three (3) to five (5) bids be obtained, but two (2) shall be the minimum.
Bidding can be waived if the item or service being provided is being provided by a University preferred vendor (i.e. a vendor listed on the Procurement Department’s preferred vendor list here) or if the vendor is a sole provider of the good or service in question.
Additionally, bids involving contracts or leases that total over $250,000 must be approved by the President of the University and bids involving contracts or leases that total over $500,000 must be approved by the Board of Regents.
This policy was approved by the University Board of Regents on May 1, 2005.
April 1, 2005