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Sole Source and Price Justification This document provides information about the requirements for competitive bids and the use of the Sole Source Justification form. In cases where competition cannot

How to fill out sole source and price

Point by point guide on how to fill out sole source and price:

1. Start by gathering all the necessary information: Before filling out the sole source and price form, ensure that you have all the relevant details regarding the product or service you are procuring. This may include specifications, quantities, and any other relevant information.
2. Identify the need for sole source procurement: Determine whether the purchase necessitates a sole source procurement. Sole source procurement is typically used when there is only one qualified vendor available to fulfill the requirements, or when there is an urgency or special circumstance that justifies the sole source approach.
3. Justify the sole source procurement: In the sole source and price form, you will need to provide a justification for why the procurement needs to be a sole source. This may involve explaining the unique qualifications or expertise of the vendor, any proprietary components or technologies involved, or any other compelling reasons why alternative competition is not feasible.
4. Include accurate pricing information: When filling out the price section of the form, ensure that you provide accurate and detailed pricing information. This may include unit costs, any applicable discounts or promotions, and any additional charges or fees associated with the purchase. It is important to provide a clear breakdown of the pricing to avoid any confusion or disputes later on.
5. Seek necessary approvals: Depending on the organization and procurement policies, you may need to seek approvals from relevant authorities or departments. This may include obtaining signatures from managers, finance departments, or procurement committees. Make sure to follow the prescribed approval process to ensure compliance.

Who needs sole source and price?

Sole source procurement and the need for pricing information is primarily relevant for organizations or individuals involved in procuring goods or services. This may include government agencies, businesses, non-profit organizations, or any entity that requires specific products or services that can only be provided by a single source. Properly completing the sole source and price form ensures transparency and accountability in the procurement process.

For pdfFiller’s FAQs

What is sole source and price?

Sole source and price refers to a procurement method where a contract is awarded to a single supplier without competition.

Who is required to file sole source and price?

Government agencies and organizations may be required to file sole source and price when there is a need to contract with a specific supplier.

How to fill out sole source and price?

To fill out sole source and price, gather all relevant information about the supplier and the procurement need, and submit the necessary documentation to the appropriate authorities.

What is the purpose of sole source and price?

The purpose of sole source and price is to streamline the procurement process and ensure that government agencies can quickly obtain goods and services when there is only one suitable supplier.

What information must be reported on sole source and price?

Information reported on sole source and price may include the name of the supplier, the reason for selecting them, the price of the contract, and any relevant supporting documentation.

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