Code and Regs
The small purchasing threshold (Fair and reasonable pricing)
11-35-1550
What is under $10,000?
Solicitation awarded to the lowest responsive and responsible offeror(s)
What is invitation for bid?
The contracted P-Card Management vendor
What is Bank of America?
This information is required to provide with a shopping cart?
(three answers)
What is POC, Contract or Quote?
If a bid has these attached, the offer will be rejected.
What are terms and conditions?
Three written quotes purchasing threshold
11-35-1550
What is between $10,000.01 to $25,000.00?
Solicitation awarded by a panel scoring (price may only account for 20% of the criteria if included)
What is Request for Proposal?
Single transaction limit
What is $2,500.00?
No tax on these line items
What is install/labor?
Look out for these on quotes or offers, as it can hide additional terms and conditions.
What are hyperlinks?
Formal solicitation purchasing threshold
11-35-1550
What is over $25,000.01+?
Section III of a solicitation document
What is Scope of Work/Specifications?
What is $5,000.00?
Under $10k off contract requires this in the internal notes
What is "price is fair and reasonable?"
Where SCDMV will handle legal disputes should they arise
What is Richland County SC?
No competition; $50k-$250k must advertise for 5 days; $250k+ must advertise for 10 days
11-15-1560
What is a sole source?
Over this amount requires Offerors to have the right to protest
What is over $50,000?
Codes used to categorize vendor types by the CG's office
What are Merchant Category Codes?
Receiving an invoice for work completed without a PO
What is an unauthorized Procurement?
State cannot agree to
(Hint: hold harmless)
What is indemnification?
Allows certain procurements to be made outside of the procurement process
11-35-710
What are exemptions?
A pre-solicitation activity that allows the State to speak with potential vendors and better understand their procurement
What is a Request for Information?
When P-Card users can contact Bank of America themselves
When is a card lost or stolen?
Required for IT POs over $50k, on or off contract
What is an IT Plan?
State cannot agree to ___
(Hint: to settle disputes)
What is arbitration?