State Employee Owned Companies
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Document Title | State Employee Owned Companies | ||||||||||||
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Document Type | Bylaws Policy Document Procedures Guidelines Form | ||||||||||||
Office/Unit | Purchasing Department | ||||||||||||
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Policy Number | Purchasing Department Policy No. 304 | ||||||||||||
Approval Date | January 2003 | ||||||||||||
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Effective Date | January 2003 | ||||||||||||
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Revision History | ORIGINAL: January 2003 |
DOCUMENT CONTENT |
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I. PurposeThe purpose of this policy is to define a procedure for the use of state employee owned companies. II. ProcedureBulletin G202, Public Officer’s Law (know your Vendors) dated February 25, 2002 reminds all agencies of the State that no state employee shall sell any goods or services having a value in excess of Twenty-Five Dollars ($25.00) to any State agency unless goods and services are provided pursuant to an award or contract after public notice (Contract Reporter) and competitive bidding (formal seal bids). Therefore as it stands, the University will suspend doing any business with any state employee-owned business without a formal bid. This purchase may have a lead-time of approximately 8 weeks for the formal bid process. | |||
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