Small Purchase/Estimate Process Clause Samples

Small Purchase/Estimate Process. The Contractor solicits comparable estimates from an adequate number of qualified sources. At least three price or rate quotations must be obtained unless it can be documented that that only two were obtained following good faith efforts. The Contractor will select the lowest responsive and responsible bid or offer. This process can only be used for services, supplies or other property costing in the aggregate up to the small purchase threshold of $250,000. City of Madison approval is required for Projects where the total value of contract(s) to be let is over $250,000: 1. At least one week before publically advertising, the Contractor must submit a complete bid document package to the City for approval. A complete bid document package must include selection criteria, the advertisement, specifications, additional federal requirements, and instructions to bidders with M/W/DBE goal (when applicable.) After obtaining City approval, the Contractor publically advertises bidding opportunities including electronic posting at least three weeks before deadline with the third week to allow for submitting bids through one of the three processes below: a. Competitive Sealed Bid/Invitation for Bids (IFB) Process: Sealed bids with “best and final offers” are solicited and publicly opened at a time and place specified in the IFB. The Contractor awards a firm-fixed contract to the lowest responsive and responsible bid or offer that is most advantageous to the program or project principally on the basis of price. Other factors such as compliance with federal requirements, the M/W/DBE goal, and quality may be considered when specified in the RFB.