Purchases Over $5,000

Dollar Amounts Over $5,000           

The office of Procurement is responsible for ensuring all goods and services contracted over $5,000 are purchased in accordance with the university’s policies and procedures.  Being an institution of the Commonwealth, W&M must seek competition to the greatest extent to ensure the best possible value for William and Mary is received. 

$5,000.01 - $50,000

Unless purchased from a contract vendor, goods and services expected to total more than $5,000 must come through the Procurement office to be competitively procured.  The procurement officer will consult with the requesting department to determine the most appropriate procurement method to use.  The different methods to procure the needed goods and services for purchases within this dollar threshold include but are not limited to:

  • SWaM award: The Procurement office may award to a SWaM certified business without the need for additional competition as long as the procurement officer feels the pricing received is fair and reasonable. 
  • Request for Quotes (RFQ): a fairly informal bid process that typically requires less lead time and allows for bidders to submit their quotes through different methods, (email, fax, paper).
  • Best Value Acquisition (BVA): a process that allows for evaluation of multiple criteria and is commonly viewed as an informal Request for Proposals.
Over $50,000

Purchases expected to total over $50,000 tend to require a more formalized procurement process and typically are handled through the following methods:

  • Invitation for Bids (IFB): a process used when able to properly define what is needed and how it is to be delivered. 
  • Request for Proposals (RFP): a process that allows for evaluation of multiple criteria and allows for negotiation on many different elements of the order, including but not limited to price.

Exceptions to Competition Requirements

Emergency Over $5,000

Emergency purchases are defined as those purchases that are required to protect life and/or property where there was no opportunity for planning.

  • Post emergency, the department must submit written justification describing the nature of the emergency to the Procurement office.
  • Competition and negotiation should be used to the greatest extent possible, although the formal procedures are waived.
Sole Source Over $5,000

Sole Source procurements are used when there is only one firm able to satisfy the needs of the university.  Price does not constitute as a determining factor for a sole source vendor selection.

  • Department to attach the completed sole source form (.pdf) to the eVA requisition.  The procurement office will review and ensure proper negotiations have been completed.   
  • Additional signatures will be required depending on the amount of the sole source,
    • Up to $10,000 – Procurement officer signature
    • $10,000.01 - $100,000 – Director of Procurement signature
    • Over $100,000 – Chief Financial Officer signature

Note: A purchase restricted to a stated brand available from more than one vendor is not considered a sole source, rather proprietary and will require further review from the procurement office and most likely be competitively procured.