The University has an approved Purchasing Policyfor goods and services. The purpose of this policy is to:
1. Ensure compliance with government regulations for public institutions
2. Use a competitive bidding approach to ensure best value for goods and services being purchased
3. Allow the University to be accessible to all vendors
4. Identify the role of Purchasing (and others) in the procurement process
University policy concerning financial commitments provides that no staff member of the University has the authority to make any purchase commitment, enter into any contract for materials or supplies or otherwise to take any action with respect to third parties which may be construed as financially binding to the University except through the usual channels under the authority of the Vice-President (Administration & Finance).
This policy defines how the procurement process must be executed for goods or services exceeding the University’s defined limit of $2,500. All orders above this amount will require the issuance of a Purchase Order from Purchasing as this Purchase Order forms a legal contract and encumbers the funds in the University’s accounting system. Further information on the competitive bidding and purchasing methodology can be found at Policy Overview.
This policy does not cover any renovation or construction work conducted by the University Facility Services Department, as this work is governed by the Procurement Policy - Facility Services.