Get the free Sole Source Purchases - Business & Finance - icc illinois

ICC Docket 180184 ST 2.06 Attach 1 Page 39 of 47AMNADM4004 Procurement ProcedureRev. 12 November 1, 2017Attachment B, Flowchart: Source to Settle Process Structured BuySole Source Justification FormOnfy

How to fill out sole source purchases

How to fill out sole source purchases

1. Identify the specific goods or services required.
2. Justify the need for a sole source purchase by demonstrating that only one supplier can fulfill the requirement.
3. Document the reasons supporting the sole source decision, including any unique capabilities or qualifications of the supplier.
4. Obtain necessary approvals from management or relevant authorities for the sole source procurement.
5. Prepare and submit the sole source justification to the appropriate procurement department.
6. Negotiate terms and conditions with the supplier and finalize the purchase agreement.

Who needs sole source purchases?

1. Government agencies that require specialized services.
2. Organizations or departments with unique operational needs.
3. Companies seeking to procure highly specialized products that only one vendor can supply.
4. Entities dealing with emergency situations necessitating immediate purchase without the standard bidding process.

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What is sole source purchases?

Sole source purchases refer to procurement situations where a product or service can only be supplied by one specific vendor, thus eliminating the need for competitive bidding.

Who is required to file sole source purchases?

Typically, government agencies, departments, or organizations that engage in purchasing goods or services that are deemed sole source are required to file sole source purchases.

How to fill out sole source purchases?

To fill out sole source purchases, one must complete a designated form that includes details such as the vendor's information, justification for sole sourcing, and the specific goods or services required.

What is the purpose of sole source purchases?

The purpose of sole source purchases is to streamline procurement for situations where only one vendor can provide the necessary goods or services, ensuring efficiency and potentially saving time.

What information must be reported on sole source purchases?

Information that must be reported includes vendor identification, the rationale for selecting a sole source option, a description of the goods or services, and any relevant cost details.