Get the free Sole Source bJustificationb - Princeton University - princeton

Form is to be completed for all purchases totaling $5,000 or more. A narrative justification must be completed to support all transactions. FINANCE & TREASURY.

How to fill out sole source bjustificationb

How to fill out sole source justification:

1. Begin by clearly stating the purpose of the sole source justification. This could be for a specific procurement or contract where there are no other viable alternatives available in the market.
2. Next, provide a detailed description of the goods or services that are being sought and explain why they are unique or specialized. You should also include any specific technical requirements or specifications that are necessary for the procurement.
3. Identify the supplier or contractor that will be selected as the sole source. Provide information about their qualifications, expertise, and previous experience. It is important to demonstrate that they are the only supplier capable of meeting the requirements outlined in the justification.
4. Justify why competition is not feasible or practical in this situation. This could be due to reasons such as proprietary rights, the product being patented, or the supplier having exclusive rights to a particular technology. Be specific and provide evidence to support your claims.
5. Outline any potential risks or disadvantages associated with using a sole source supplier. These could include higher costs, potential for conflicts of interest, or limited control over the quality of goods or services. It is important to acknowledge these risks and explain why they are outweighed by the benefits or necessity of the sole source procurement.

Who needs sole source justification:

1. Government agencies or organizations that follow strict procurement regulations often require sole source justification to ensure transparency and accountability in their procurement processes.
2. Companies or businesses that require highly specialized or customized goods or services which can only be provided by a specific supplier may also need sole source justification.
3. Organizations procuring goods or services that are protected by intellectual property rights or exclusive licensing agreements may need to provide sole source justification to demonstrate the lack of alternatives in the market.

Remember, it is crucial to carefully consider and document the reasons for using sole source justification to ensure compliance with procurement regulations and to justify the selection of a single supplier.

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What is sole source justification?

Sole source justification is the documentation and explanation provided for the decision to award a contract without competitive bidding, usually due to a unique product or service only available from one source.

Who is required to file sole source justification?

Contracting officers are usually required to file sole source justifications when awarding contracts without competition.

How to fill out sole source justification?

Sole source justifications should include a description of the product or service, the reason why it is unique, the lack of alternatives, and the rationale for selecting the specific source.

What is the purpose of sole source justification?

The purpose of sole source justification is to ensure transparency and accountability in procurement practices, as well as to demonstrate that the decision to award a contract without competition was justified.

What information must be reported on sole source justification?

Sole source justifications must include details of the product or service, the reasons for selecting the specific source, cost analysis, and any potential conflicts of interest.