Formal procurement methods Sample Clauses

Formal procurement methods. When the value of the procurement for property or services under a Federal financial assistance award exceeds the SAT, or a lower threshold established by a non-Federal entity, formal procurement methods are required. Formal procurement methods require following documented procedures. Formal procurement methods also require public advertising unless a non-competitive procurement can be used in accordance with § 200.319 or paragraph (c) of this section. The following formal methods of procurement are used for procurement of property or services above the simplified acquisition threshold or a value below the simplified acquisition threshold the non-Federal entity determines to be appropriate:
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Formal procurement methods. When the value of the procurement for property or services under a Federal financial assistance award exceeds the SAT, or a lower threshold established by Subrecipient, formal procurement methods are required. Formal procurement methods require following documented procedures. Formal procurement methods also require public advertising unless a non-competitive procurement can be used in accordance with 2 CFR 200.319. The following formal methods of procurement are used for procurement of property or services above the simplified acquisition threshold or a value below the simplified acquisition threshold the non-Federal entity determines to be appropriate: • Sealed Bids - A procurement method in which bids are publicly solicited and a firm fixed- price contract (lump sum or unit price) is awarded to the responsible bidder whose bid, conforming with all the material terms and conditions of the invitation for bids, is the lowest in price. The sealed bids method is the preferred method for procuring construction, if the appropriate conditions are present (see 2 CFR 200.320(b)(1)(i)). • Proposals - A procurement method in which either a fixed price or cost-reimbursement type contract is awarded. Proposals are generally used when conditions are not appropriate for the use of sealed bids.
Sample 1

Related to Formal procurement methods

  • Procurement Method (a) Quality-Based Selection (b) Selection under a Fixed Budget

  • Particular Methods of Procurement of Goods and Works International Competitive Bidding. Goods and works shall be procured under contracts awarded on the basis of International Competitive Bidding.

  • Other Methods of Procurement of Goods and Works The following table specifies the methods of procurement, other than International Competitive Bidding, which may be used for goods and works. The Procurement Plan shall specify the circumstances under which such methods may be used: Procurement Method

  • U.S. Federal Procurement Requirements Without limiting Section 12.1, in light of DXC’s status as a U.S. Federal contractor and subcontractor, all applicable procurement regulations required by federal statute or regulation to be inserted in contracts or subcontracts apply to this Order, including but not limited to FAR 52.219-8 (Utilization of Small Business Concerns), FAR 52.219.-9 (Small Business Subcontracting Plan), FAR 52.219-16 (Liquidated Damages Subcontracting Plan), FAR 52.222-26 (Equal Opportunity), FAR 52.222-35 (Equal Opportunity for Special Disabled Veterans, Veterans of the Vietnam Era, and other Eligible Veterans), FAR 52.222-36 (Affirmative Action for Workers with Disabilities), FAR 52.222-39 ( Notification of Employee Rights Concerning Payment of Union Dues or Fees), FAR 52.222-41 (Service Contract Act of 1965), and FAR 52.247-64 (Preference for Privately Owned U.S. Flag Commercial Vessels).

  • HOURS OF WORK AND RELATED MATTERS 34 Hours of Work

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