Procedure Number: 5.4.6-P
Current Effective Date: 08/01/2017
Original Effective Date: 09/15/2009
Revision Dates: 09/15/2009, 01/01/2015, 06/30/2017
Revision Number: 3
Responsible Official: Director of Procurement to Payment
To address the establishment and use of KCTCS price contracts.
This procedure applies to all KCTCS employees.
3. Price Contracts
Price contracts are established by KCTCS System Office of Procurement to Payment Services for items routinely purchased by the various business units at KCTCS.
- Price contracts guarantee certain prices for items and services for a specified period of time.
- Price contracts are usually established after issuing a formal, advertised Request for Bid (RFB) or Request for Proposal (RFP).
- Price contracts are generally for one year with clauses allowing renewal of one or more additional years.
- When items and services are on a price contract, business units are encouraged to
make their purchases from the price contract supplier.
- If items are available locally at a significantly lower price, the business unit shall request approval from KCTCS System Office of Procurement to Payment Services to purchase from the non-price contract supplier.
- It is the responsibility of KCTCS System Office of Procurement to Payment Services
to ensure that items on price contracts established by KCTCS are competitive with
current market conditions.
- A list of contract suppliers is available from KCTCS System Office of Procurement to Payment Services.
KCTCS may also use Price Contracts established by the General Services Administration of the United States Federal Government (GSA), the Commonwealth of Kentucky, other state universities, and purchasing cooperatives to which KCTCS may belong.