VCOM Institutional Policy and Procedure Manual

VCOM Federal Funds Procurement Policy

Policy #U005

employees. Credibility and public confidence are vital throughout the purchasing and contracting system. Any erosion of honesty, integrity or openness tends to be more injurious to purchasing than to most other public programs. The shadow of doubt can be as harmful as the conduct itself. It is with this in mind that the following code is set forth. This document defines the ethical standards of conduct required of VCOM employees, suppliers, potential suppliers and employees of other agencies when acting under the authority delegated by the VCOM. • To give first consideration to the objectives and policies of the College. • To purchase without prejudice, seeking to obtain maximum value for each dollar expended on behalf of the College. • To conduct ourselves with fairness and dignity and to demand honesty and truth in the purchasing process. • Demand honesty in sale representation whether offered through the medium of a verbal or written statement, an advertisement, or sample of the product. • Strive to continually increase competition in supplier selection and endeavor to prevent any collusive activities among suppliers. • Avoid soliciting or accepting money, loans, credits, gifts, entertainment, favors, or services from present or potential suppliers that might influence, or appear to influence supply management decisions. • Handle confidential or proprietary information with due care and proper consideration. Receive consent of originator of confidential information or proprietary ideas and designs before using them for competitive purchasing purposes. • To honor our obligations and require that obligations to the College be honored. • Promote positive supplier relations through courtesy and impartiality. Conduct business with potential and current suppliers in an atmosphere of good faith, devoid of intentional misrepresentation. • To grant all competitive suppliers equal consideration insofar as state or federal statute and College policy permit. • Foster fair, ethical and legal trade practices. • Make every reasonable effort to negotiate an equitable and mutually agreeable settlement of any controversy with suppliers; and/or be willing to submit any major controversies to arbitration or other third party review, insofar as the established policies of the College permit. • Cooperate with trade, industry, professional associations, governmental and private agencies for the purposes of promoting and developing sound practices. • To give preference, to the extent practical and economically feasible, of products and services that conserve natural resources and protect the environment and are energy efficient. A CQUISITION PROCEDURES VCOM shall conduct all procurement transactions in a manner that maximizes opportunities, increases quality, and reduces the cost of purchase. VCOM reserves the right to reject any bids or offers, if deemed to be in its best interest. The Office of Research Administration shall thoroughly review all purchases utilizing federal funds to avoid purchasing unnecessary items. One of the following procurement procedures shall be utilized for all purchases of equipment, materials, supplies, property, or services involving federal funds over $5,000. The volume of purchases $5,000 and under makes it impractical to supply written cost price analysis documentation for each purchase. Purchasing uses sound business judgment and relies on professional experience in making the buying decision. Only one quote is required for the purchase of a single item that totals to $5,000 or less, inclusive of shipping , handling and any other costs, from any single vendor. For example, if one computer costs more than $5,000, quotes shall be obtained. If three computers costing $2,500 each are needed, one quote shall be obtained. Purchasing ensures that the price is fair and reasonable. Principal Investigators document these facts and attests that supplier selection and price determination has taken place in accordance with the principles outlined below by initialing or approving the Purchasing Request. 3.

VCOM Federal Funds Procurement Policy

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