Rutgers’ Purchasing Thresholds – Updated Policy

The university Procurement and Payment Policy has been updated as of April 10, 2018. One main takeaway from the policy changes are the purchasing thresholds:

Low Value Purchase Range: Before: $5,000  //  Now: $10,000
Informal Bid Range: Before: $5,001 – $49,999  //  Now: $10,000 – $149,999
Formal Bid Range: Before: $50,000 and greater  //  Now: $150,000 and greater