What is the minimum number of written bids required for purchases between $3,000 and $25,000?

For purchases that fall between $3,000 and $25,000, the requirement for obtaining written bids typically involves soliciting a minimum of three bids from different sources. This process ensures that the purchasing entity receives a range of competitive offers, enabling them to make informed decisions that reflect fair pricing and quality considerations.

The rationale behind requiring three written bids is rooted in the principles of transparency and accountability in procurement practices. By obtaining more than one bid, organizations can compare prices and terms effectively, reducing the risk of overpaying and ensuring that they select a vendor that meets their needs.

This practice also helps to foster competitiveness in the procurement process, encouraging suppliers to present their best offers, ultimately benefiting the purchasing entity. Compliance with this bidding requirement is crucial for maintaining integrity in public spending and upholding the trust placed in the procurement processes.