- Lenape Regional High School District
- Financial Procedures Manual
- PRICE QUOTATION
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15. PRICE QUOTATION
The law requires that purchases of materials or services from $6,600 through $44,000 (2020-2021) must be procured by obtaining quotations of prices. At least two quotations should be sought, or the attempt to obtain at least two quotes should be evident.
1. Price Inquiry- Quotations may be obtained by sending a price inquiry to at least two vendors or by seeking quotation by telephone. A written summary of the results must be attached to the purchase order, along with the actual written quotations if sought in writing. A Solicitation of Quotations form is included in the appendix and should be used whenever possible.
The delivered price should be requested in each quotation. The vendor should provide a delivery date and must also furnish any of his terms, which in some cased may be the deciding factor on which the vendor is awarded order.
2. Award of purchase- when a decision is made and approval is obtained; the supervisor will prepare a purchase order forward the summary of quotes from to the Business Office. Although the purchase is generally offered to the vendor with the lowest price, all factors may be considered in making the decision to award and the selection may not necessarily be limited to the lowest price. If the lowest price vendor is not selected the person soliciting the quotes should document the reasons for selection of the higher price vendor on the Solicitation of Quotations form.