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Finance & Administration > FAPolicies > Purchasing & AP > Purchases More Than $250,000
Purchases More Than $250,000
Section:6- Purchasing
Policy Procedure:6-2.04
Subject:Purchases More Than $250,000
Established Date:1/1/2000
Responsible Department:University Purchasing
Overview

This procedure provides guidelines for purchases greater than $250,000 from vendors external to MUSC.

General Guidelines

Due to the amount of these purchases, they will require the prior approval of the MUSC Board of Trustees.

Procedures

Any contract with a potential value in excess of $250,000 is considered a major purchase and requires approval from the MUSC Board of Trustees prior to the purchase being made. A department anticipating a purchase of this type will need to submit a purchase requisition (through the MUSC Marketplace)with a Major Purchase form and all other applicable documentation required by the Purchasing Department attached. The information will need to be submitted in a timely fashion to allow it to be added to the agenda for the next Board of Trustees meeting (see major purchases timeline).

After the Board of Trustees has approved the major purchases, the requesting departments will be notified within a week after the Board meeting.

The Purchasing Department will proceed with the purchase according to regulations established by the State of South Carolina Budget and Control Board.

Forms

MUSC Major Purchase Form

Instructions for Major Purchase Form


Page last updated:09/03/2013

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