The Rules Governing Procurement of Goods, Services, Insurance and Construction by a Public Institution of Higher Education of the Commonwealth of Virginia (Subchapter 3 of the Restructured Higher Education Financial and Administrative Operations Act), hereafter referred to as “Governing Rules” permit a public body to establish small purchase procedures, if adopted in writing, not requiring the use of competitive sealed bidding or competitive negotiation for single purchases of goods and services or the establishment of a term contract if the sum of all phases is not expected to exceed $50,000; however, such small purchase procedures must provide for competition wherever practical.
William & Mary, which includes Virginia Institute of Marine Science, “William & Mary”, or “W&M”, Procurement Services Office is the central contracting office for the university for non-capital outlay goods and services. All such purchases made by any university department shall be made in accordance with the Governing Rules, and such rules and regulations as W&M may prescribe. Contracts may only be signed by employees with delegated purchase and contract authority in accordance with their level of delegation. While grant purchases are required to be procured via the university procurement policy, grant related transactions shall be coordinated through the Office of Sponsored Programs.