Get the free Procurement Sole Source Approval - Wake Forest University

Print Form Procurement Staff Review: Procurement Sole Source Approval Date: Amount of Purchase: Supplier Name: Reason(s) for requesting no bids or quotations be obtained. All reasons require explanation

How to fill out procurement sole source approval

How to Fill out Procurement Sole Source Approval:

1. Begin by gathering all the necessary information and documents required for the procurement sole source approval form. These may include details about the product or service needed, the justification for using a sole source, and any supporting documents or quotes.
2. Start the form by clearly stating the purpose of the procurement sole source approval and providing the names and contact information of the individuals involved in the procurement process.
3. Next, provide a brief description of the product or service needed and explain why it is necessary to use a sole source instead of going through a competitive bidding process.
4. In a separate section, describe the efforts made to identify other potential suppliers or alternatives and provide reasoning for why they were not suitable or available.
5. Outline the specific criteria used to select the sole source and provide any supporting documentation, such as past performance records, certifications, or unique capabilities.
6. Include a detailed justification for the sole source procurement, focusing on factors such as technical expertise, compatibility requirements, or urgent circumstances that make it necessary.
7. The form should also include a section for cost analysis, where the estimated costs of the sole source procurement are compared to the costs that would have been incurred through a competitive bidding process. Provide a detailed explanation of how the costs were determined.
8. Be sure to clearly identify any potential conflicts of interest or any other relevant information that may impact the decision-making process or raise concerns about the procurement.

Who Needs Procurement Sole Source Approval:

1. Organizations or entities that have established procurement policies and procedures.
2. Government agencies or departments that are required to follow specific procurement regulations.
3. Any individual or group responsible for making procurement decisions that involve sole sources.

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What is procurement sole source approval?

Procurement sole source approval is the process of obtaining authorization to purchase goods or services from a single source without going through a competitive bidding process.

Who is required to file procurement sole source approval?

Government agencies or organizations that need to purchase goods or services from a single source.

How to fill out procurement sole source approval?

To fill out procurement sole source approval, you typically need to provide a justification for why the purchase must be made from a single source, along with other relevant information.

What is the purpose of procurement sole source approval?

The purpose of procurement sole source approval is to ensure transparency and accountability in the procurement process, while also allowing for purchases to be made quickly when a competitive bidding process is not feasible.

What information must be reported on procurement sole source approval?

Information such as the justification for selecting a single source, the cost of the goods or services, and any potential conflicts of interest.