REQUISITION: These are formal requests submitted by a user department for supplies, equipment, or services. It is not an order, and is not valid off campus.

COMPETITIVE SEALED BIDS AND REQUEST FOR PROPOSALS (RFP's): Competitive Sealed Bids and RFP's are UNL's methods of awarding contracts for goods and/or services with estimated values of $75,000 or greater.

REQUEST FOR QUOTATION (RFQ): RFQ's are used by University departments when the acquisition has an estimated value of $5,000 - $24,999 and by University Purchasing when the acquisition has an estimated value greater than $25,000 and less than $74,999. This type of request has a due date required like sealed bids; however, it is not opened and read aloud to the public.

PURCHASE ORDER: A purchase order is a legal document used by the University which authorizes a supplier to provide a product or service to the institution.

OFFER: Technically, an offer is an "act of one person that gives another person the legal power to create a contract to which both of them are parties." In practice, the bid or proposal submitted by a supplier is an offer. Sealed Bids and RFQ's solicit offers.

SOLICITATION: The process of notifying vendors/suppliers that the University wishes to receive bids or proposals on a set of requirements. Solicitation may include public advertising, the mailing of Sealed Bids or RFQ's, letters inviting offers, and telephone calls to prospective vendors/suppliers.

CONTRACT: In practice, the actual contract documents will consist of: (1) the Sealed Bid or RFQ as issued by the Purchasing Department, and (2) the offer submitted by the vendor/supplier in response to the solicitation. In the event of a conflict in language, the provisions of the Sealed Bid or RFQ shall govern.

RESPONSIVE AND RESPONSIBLE BIDDER: A responsive bidder is one who has submitted a bid or proposal which conforms in all material respects to the bid request. A responsible bidder in one who has the capability in all respects to perform the contract requirements in a manner which will assure reliability and good performance.

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