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Sole Source andor Reasonableness of Price Form - business buffalo

Sole Source andor Reasonableness of Price Form - business buffalo 2025

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The document outlines the procedures and justifications required for processing requisitions in the Purchasing Department, specifically focusing on sole source procurement and the reasonableness of price. It includes sections for award justification, supplier information, and cost analysis, emphasizing compliance with various thresholds and necessary approvals for purchases exceeding specified amounts.

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How do you write a good sole source justification?

Preparing the Sole or Single Source Justification The justification should: Be prepared by someone familiar enough with the requirements to provide the necessary information. Include the signature and title of the preparer. The author should be prepared to substantiate any facts if an audit occurs.

What does it mean to be single-sourced?

Single sourcing is where a particular supplier is chosen by an organisation, even when other suppliers are available. Sole sourcing is where there is only one supplier available for the required product or service that your organisation needs. Its also sometimes referred to as monopolistic supplier.

What is the justification for a single source supplier?

A sole source purchase is justified when unique attributes or circumstances dictate that only one provider is capable of supplying the desired goods or services. This must be demonstrated along with ensuring the price is fair and reasonable.

What is an example of a single source?

Example: The purchase of a software license which is not available from any other source but the producer of a particular software.

What does single source mean in procurement?

Definition: A Single Source procurement is one in which two or more vendors can supply the commodity, technology and /or perform the services required by an agency, but the department selects one vendor over the others.

What is meant by single source?

Single sourcing occurs when a company chooses one supplier to provide all of its products, materials, parts and components, even when there are other suppliers that can provide the same goods. Businesses commonly use single sourcing because it can reduce costs.

What is an example of single-sourcing?

The company selects only one among the suppliers who can provide what they need. For example, if your company chooses to buy Samsung laptops instead of any other brands that also sell laptops, then that is single-sourcing.

Sole Source andor Reasonableness of Price Form - business buffalo 2025

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