A formal bid is required for all purchases $150,000 or greater per Board of Regents Policy Section RP-6.2.1.10 (b). Please allow additional approval time for formal bids requiring Board of Regents approval.
Types of Bids:
- Request for Information (RFI) - Requests for Information are formal solicitation processes used to obtain general information about products, services, or suppliers. RFI’s are commonly used to gain market familiarity to help in decision making processes. RFI’s are not used as a sourcing selection method to procure goods or services.
- Invitation to Bid (ITB) - Also referred to as a price-based bids are formal solicitation processes where suppliers are asked to provide pricing on a specific product or service. The supplier with the best price whose product meets the specified product or service requirements outlined in the ITB is awarded the bid.
- Request for Proposal (RFP) - Request for Proposal are formal solicitation processes where specific requirements and desired outcomes. Suppliers propose products and or services that meet the specified requirements and desired outcomes. A committee evaluates Supplier proposals to determine the lowest responsible bidder.
Formal bids must be operated by a University of Nebraska sourcing agent. Use the sourcing request tiles in SAP Ariba to request assistance getting started with your next formal bid.
