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EXCLUSIVE ACQUISITION JUSTIFICATION FORM (For Noncompetitive Purchases Over $5000) The competitive bidding process is the foundation of government purchasing. In rare situations though, due to the

How to fill out exclusive acquisition justification form

1. Start by gathering all the necessary information and documentation required for the exclusive acquisition justification form. This may include details about the acquisition, such as the main reasons for the acquisition, the expected benefits, and any potential risks involved.
2. Begin filling out the form by clearly stating the purpose of the acquisition. Explain why it is necessary to exclusively acquire the particular asset, service, or product in question, rather than exploring alternative options.
3. Provide detailed information about the current situation or problem that the acquisition aims to solve. Clearly articulate the need for the specific asset or service being acquired and highlight how it will address the identified problem or fill a gap in the organization.
4. Outline the benefits and advantages that the acquisition will bring. This could include financial gains, increased efficiency, improved productivity, enhanced customer service, or any other positive impacts that can be expected from the acquisition.
5. Identify and explain any potential risks or challenges associated with the acquisition. It is important to address these upfront and propose mitigation strategies to minimize their impact. This shows that you have thoroughly considered possible downsides and have a plan in place to handle them.
6. Include relevant financial information, such as the estimated costs of the acquisition, the expected return on investment, and any additional expenses that may be incurred during and after the acquisition. This helps provide a comprehensive understanding of the financial implications and justifies the resources needed for the acquisition.
7. Clearly explain any alternatives that were considered before deciding on the exclusive acquisition. This demonstrates that you have explored other options and have a solid rationale for selecting the exclusive acquisition as the most suitable solution.
8. Finally, specify who needs to review and approve the exclusive acquisition justification form. This could be a supervisor, a department head, or any relevant decision-maker within the organization. Make sure to include their contact information and any deadlines for review or approval.

Who needs exclusive acquisition justification form?

1. Organizations or businesses that are considering acquiring a specific asset, service, or product and need to present a compelling case for exclusively acquiring it.
2. Government agencies or departments that require justification for exclusive acquisitions due to their impact on public funds or resources.
3. Contractors or suppliers who need to justify the exclusive nature of their offer or proposal when competing against other potential suppliers.
4. Individuals or teams within organizations who are responsible for making acquisition decisions and need to ensure transparency, accountability, and due diligence in the decision-making process.
5. Any other entity or party that requires a formal justification for an exclusive acquisition, in order to maintain a clear record of the decision-making process and its underlying justifications.

For pdfFiller’s FAQs

What is exclusive acquisition justification form?

It is a form used to request approval for the acquisition of a specific product or service from a single source.

Who is required to file exclusive acquisition justification form?

Government agencies and organizations that intend to procure goods or services from a sole supplier.

How to fill out exclusive acquisition justification form?

The form typically requires information about the product or service being acquired, justification for the exclusive acquisition, and approval signatures.

What is the purpose of exclusive acquisition justification form?

The purpose is to ensure transparency and accountability in the procurement process, by documenting the reasons for selecting a single source for the acquisition.

What information must be reported on exclusive acquisition justification form?

Information such as the description of the product or service, sole supplier details, justification for not seeking competitive bids, and approval signatures.

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