Update to Procurement Threshold

The state of North Carolina updated its procurement and bidding thresholds. The new competition threshold for informal bidding increased from $29,000 to $31,000. Following is a summary of updates and reminders for NC State’s Procurement Thresholds:

• For purchases up to $5,000, no changes: The NC State Marketplace and the PCard remain the preferred procurement methods and should be selected based on the availability of the required products.
  
• For purchases between $5,000 and $30,999:

1. Obtain quotes from three qualified suppliers to ensure the best price and value.
2. Submit the best value quote of those obtained from a qualified supplier.
3. Submit a memo documenting the reason that the State Term Contract is not used, if applicable.
4. Submit a requisition, required to ensure Capital Assets are adequately captured. Note: A Waiver of Competition memo is not required.

To comply with Procurement guidelines and best practices, the preferred purchasing methods for goods and services should be followed in this order:  

1.  Shop the MarketPlace first. 
2.  Utilize the State Term contracts or University and National consortium contracts.
3. Use the PCard as the final method.