The most advantageous balance of price, quality, service, and other factors, as determined by the Purchasing Department and end-user, to meet KSU's needs.
A formal, competitive offer submitted by a vendor in response to an invitation for bids (IFB) or request for proposals (RFP).
A legally binding agreement between KSU and a supplier for the provision of goods or services.
A purchase made in response to a sudden, unexpected occurrence that poses a clear and imminent danger to public health or safety, or that critically impacts KSU's ability to perform its essential functions, and which requires immediate action.
A formal document that an entity such as KSU sends to potential contractors or vendors to solicit bids for a specific project or purchase. It is usually used when the project scope, requirements, and even the process for completion are well-defined. The focus is on the price, and an IFB is nearly always awarded to the lowest bidder.
KRS Chapter 45A, which governs the purchasing functions of state agencies, including universities.
KSU's official document used to authorize and formalize a purchase transaction with a vendor.
The KSU Office, located with the Department of Finance & Administration, that possesses central authority for the procurement of goods and services.
A formal document that an entity such as KSU uses to invite potential vendors or contractors to submit proposals for a specific project, service, or product. It is usually used when KSU needs to consider factors other than price when selecting a vendor or contractor.
An internal KSU document used by a department to request the purchase of goods or services.
A procurement where, after a good-faith review of available sources, it is determined that only one (1) supplier is practically available for the required good or service. This requires formal justification and approval.
A procurement of goods, services, or construction below a specified dollar threshold, which may be made using simplified procedures defined by the KMPC and KSU policies and regulations.