Auctions and Reverse Auction
FIN-PUR-18.0
Note: In 2019, university policies related to university purchases (formerly FIN-PUR-01 through FIN-PUR-35) were updated and consolidated into FIN-PURCH-01 through FIN-PURCH-14. The History section of this policy contains complete information on where the topics covered by each FIN-PUR policy can be found in FIN-PURCH. A few FIN-PUR policies have been rescinded or converted into Standard Operating Procedures, and the History section contains that information as well.
About This Policy
- Effective Date:
- 12-04-2008
See current policy
- Date of Last Review/Update:
- 07-26-2016
- Responsible University Office:
- Procurement Services
- Responsible University Administrator:
Vice President and Chief Financial Officer
- Policy Contact:
Jill Schunk
Associate VP, Office of Procurement Services
jschunk@iu.edu
- Policy Feedback:
- If you have comments or questions about this policy, let us know with the policy feedback form.
Policy Statement
In the event that University Procurement Services identifies that a transaction utilizing an auction process best serves the interests of the University, the purchasing department may utilize or authorize the use of an auction transaction. University employees must secure prior approval from the purchasing department to conduct such transactions.
Reason for Policy
The University may find that its interests are best served by utilizing auctions. These auctions may be traditional auctions as well as on-line, reverse auctions.
History
The source to this policy is:
Associate Vice President, University Procurement Services, Vice President and General Counsel, Treasurer’s Office
Please note: This is an archived version of the policy. View the current version.