Get the free Vendor Justification/Price Verification/Sole Source Form - www1 villanova

Vendor Justification/Price Verification/Sole Source Form Villanova University requires vendor selection justification and price verification for all orders greater than $5,000 (Government funds $2,500).

How to fill out vendor justificationprice verificationsole source

How to fill out vendor justificationprice verificationsole source

1. To fill out vendor justification, follow these steps:
2. Identify the products or services required for your project or organization.
3. Research and identify potential vendors who offer these products or services.
4. Evaluate the vendors based on factors such as cost, quality, and reputation.
5. Select the preferred vendor based on the evaluation results.
6. Fill out the vendor justification form, providing details about the selected vendor and the reasons for choosing them.
7. To conduct price verification, follow these steps:
8. Determine the product or service you want to verify the price for.
9. Research and identify multiple vendors or sources who offer the same or similar product/service.
10. Obtain the price information from each vendor/source.
11. Compare the prices to identify any significant differences or discrepancies.
12. Analyze the reasons for price variations, considering factors such as quantity, quality, and additional services.
13. To determine if a sole source is necessary, follow these steps:
14. Identify the specific product or service required.
15. Research and determine if there are multiple vendors who can provide the product or service.
16. Evaluate the availability and capabilities of each vendor.
17. Assess if any unique features or specialized expertise are required for the product or service.
18. If only one vendor meets the necessary criteria or possesses exclusive capabilities, a sole source may be justified.
19. Document the reasons for choosing a sole source in the justification form.

Who needs vendor justificationprice verificationsole source?

1. Vendor justification is needed by procurement departments, purchasing managers, or individuals responsible for selecting vendors for organizations or projects.
2. Price verification is necessary for anyone involved in purchasing decisions to ensure the fairness and accuracy of prices.
3. Sole source determination is typically made by procurement departments or individuals responsible for procurement, based on specific project or organizational requirements.

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