Glossary

A B C E F I O P Q R S T
Competitive Sealed Bids

Competitive Sealed Bids are the university's method of awarding contracts for goods and/or services with estimated values of $150,000 or greater.

Contract

A written agreement, fully executed (signed by all parties), containing an offer and acceptance for consideration.

Cooperative Procurement Programs

Two or more entities combine their requirements to obtain advantages of volume purchases.