How to Buy Professional Services from Companies
This commodity covers professional services from companies. A company operates under a Federal Employer Identification Number (FEIN). Professional services are generally services provided by those who have attained "professional" status. That status is typically attained either by receiving an academic degree or professional certification, or by having a level of experience within the profession, or by a combination of these factors. Examples range from physicians, attorneys, or CPA accountants to professional athletes and certain personnel in law enforcement, health care, or real estate. Many consulting firms hold themselves out as "professionals" in the particular area in which they do consulting.
Note: The procedure for procuring services from individuals varies from that for obtaining services from companies. An individual is a person or a sole proprietor of a business who operates under a Social Security Number.For information on these procedures, see How to Buy: Services from Individuals.
Procurement Options and Procedures
- $10,000 or less: Submit a Purchase Requisition through the CU Marketplace.
- Above $10,000: Submit a Purchase Requisition, or a Standing Purchase Order Requisition, through the CU Marketplace.
In order to obtain: Your purchasing agent needs (in addition to the approved SOW)
- Services over $10,000 and up to $50,000: All written documentation regarding the procurement. This may include a quote, statement of work, or email messages/letters of correspondence.
- Services over $50,000 and up to $500,000: Competition via Documented Quote process, or Sole Source Justification
- Services over $500,000: Competition via Invitation for Bids or Requests for Proposals, or Sole Source Justification
For federally funded purchases
- Over $10,000 and up to $500,000: Competition via Documented Quote process, or Sole Source Justification
- Over $500,000: Competition via Invitation for Bids or Requests for Proposals, or Sole Source Justification
- Phone: 303.764.3448
- Fax: 303.764.3434
- Email: Crystal DiCino@cu.edu