Get the free Sole Source Purchase Justification Form. Procurement - anselm

Procurement Policy & Procedures Sole Source Purchase Justification Form This form must be submitted to the Office of Procurement prior to any purchase of goods or services over $1999.99, where you

How to fill out sole source purchase justification

How to fill out sole source purchase justification:

1. Begin by clearly stating the purpose of the purchase justification. Explain why it is necessary to make a sole source purchase rather than going through a traditional bidding process. This could be due to a unique product or service, a specific expertise required, or a time-sensitive situation.
2. Provide a detailed description of the product or service being requested. Include specific specifications, features, or requirements that make this particular item or service the best option for the project or task at hand.
3. Justify the sole source selection with evidence or documentation. This can include previous successful experiences with the vendor, testimonials, or any other supporting information that demonstrates the vendor's unique qualifications or expertise.
4. Outline any alternatives that were considered and explain why they were deemed unsuitable or inadequate. This shows that thorough research and consideration were conducted before deciding on a sole source purchase.
5. Include a cost analysis, detailing the financial benefits of the sole source purchase compared to other alternatives. This should include a breakdown of all costs involved, including initial purchase, ongoing maintenance or support fees, and any potential cost savings or efficiencies that the sole source vendor offers.
6. Obtain any necessary approvals or signatures according to your organization's procurement policies. This may include getting authorization from a supervisor, manager, or procurement department.

Who needs sole source purchase justification?

1. Organizations or individuals who are responsible for procurement decisions and budgeting within their company or department.
2. Government agencies or institutions that have specific regulations or guidelines for sole source purchases.
3. Companies or individuals who have a specific product or service need that can only be fulfilled by a single vendor due to its unique nature or expertise requirements.

Overall, the sole source purchase justification is crucial for ensuring transparency and accountability in procurement processes, and it helps organizations make informed decisions when selecting vendors for their projects or tasks.

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What is sole source purchase justification?

Sole source purchase justification is a document that explains the reasons why a specific vendor is the only one capable of providing the goods or services needed.

Who is required to file sole source purchase justification?

Any procurement official or purchasing department in an organization may be required to file sole source purchase justification.

How to fill out sole source purchase justification?

To fill out sole source purchase justification, one must include detailed explanation of why the vendor is the only option, cost details, and any other relevant information.

What is the purpose of sole source purchase justification?

The purpose of sole source purchase justification is to justify selecting a specific vendor without going through a competitive bidding process, typically due to unique circumstances or urgent needs.

What information must be reported on sole source purchase justification?

Information such as vendor details, description of goods or services, justification for selecting the vendor, and cost information must be reported on sole source purchase justification.