Get the free SINGLE/SOLE SOURCE FORM - research binghamton
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This form is to be submitted with any purchase requisition that exceeds an aggregate value of $50,000 where competitive bids have not been solicited or are not available.
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How to fill out singlesole source form
How to fill out SINGLE/SOLE SOURCE FORM
01
Download the SINGLE/SOLE SOURCE FORM from the designated source.
02
Fill in the title of the project at the top of the form.
03
Provide your contact information, including name, department, and email address.
04
Clearly state the reasons for selecting a single/sole source provider over competitive bidding.
05
Detail the unique qualifications or capabilities of the chosen provider.
06
Include any relevant documentation or supporting evidence for your claims.
07
Sign and date the form to certify the accuracy of the information provided.
08
Submit the completed form to the appropriate department or individual for approval.
Who needs SINGLE/SOLE SOURCE FORM?
01
Procurement officers tasked with acquiring goods or services without competitive bidding.
02
Department heads seeking approval for sole source purchases.
03
Any organization or entity that requires justification for bypassing the competitive procurement process.
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People Also Ask about
What is the meaning of sole source?
A sole source purchase means that only one supplier (source), to the best of the requester's knowledge and belief, based upon thorough research, (i.e. conducting a market survey), is capable of delivering the required product or service.
What does single source mean?
Single sourcing occurs when a company chooses one supplier to provide all of its products, materials, parts and components, even when there are other suppliers that can provide the same goods. Businesses commonly use single sourcing because it can reduce costs.
What's the difference between single and sole source?
Single sourcing is where a particular supplier is chosen by an organisation, even when other suppliers are available. Sole sourcing is where there is only one supplier available for the required product or service that your organisation needs. It's also sometimes referred to as monopolistic supplier.
What is an example of a sole source statement?
Example: A pharmaceutical drug, which is under a multiple year patent and is only sold directly by the manufacturer. Example: A one-of-a-kind oscilloscope that is available from only one source. Example: A supplier that possesses exclusive and/or predominant capabilities.
What is the difference between single and multiple sourcing?
What are the key differences between single and multiple sourcing? Single sourcing focuses on one supplier, which can simplify procurement activities and foster deeper supplier partnerships. In contrast, multiple sourcing involves engaging various vendors, offering flexibility and reduced supply chain risks.
What is a single source form?
Single source is a term used to designate a product or service required to be purchased from one specified Supplier for strategic reasons and such purchase is in the best interests of the University, even though there may be multiple sources available.
What is an example of a single source bidding?
An example of single source procurement in contracts can be seen in the defense sector, where a government entity may enter into an agreement with a particular supplier for specialized equipment that other suppliers are incaple of providing, due to proprietary technology or security concerns.
What is the difference between single and sole source?
Single sourcing is where a particular supplier is chosen by an organisation, even when other suppliers are available. Sole sourcing is where there is only one supplier available for the required product or service that your organisation needs. It's also sometimes referred to as monopolistic supplier.
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What is SINGLE/SOLE SOURCE FORM?
The SINGLE/SOLE SOURCE FORM is a document used to justify and provide necessary information regarding a single or sole source procurement, indicating that the goods or services can only be obtained from one supplier.
Who is required to file SINGLE/SOLE SOURCE FORM?
Organizations or individuals who are seeking to procure goods or services from a single supplier without the standard competitive bidding process are required to file the SINGLE/SOLE SOURCE FORM.
How to fill out SINGLE/SOLE SOURCE FORM?
To fill out the SINGLE/SOLE SOURCE FORM, applicants must provide detailed information about the procurement, including a description of the goods/services, justification for the sole source, and any supporting documentation that demonstrates the necessity of using that specific supplier.
What is the purpose of SINGLE/SOLE SOURCE FORM?
The purpose of the SINGLE/SOLE SOURCE FORM is to provide transparency and accountability in the procurement process by documenting the reasons for not using a competitive bidding process and ensuring compliance with procurement regulations.
What information must be reported on SINGLE/SOLE SOURCE FORM?
The information that must be reported on the SINGLE/SOLE SOURCE FORM includes a clear description of the goods or services, the identity of the supplier, justification for sole source procurement, any market research conducted, and the anticipated cost.
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