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Procurement Terms Glossary

Enterprise Vendor of Record (EVoR)

An Enterprise Vendor of Record (EVoR) is established through an open competitive procurement process facilitated by Central Procurement Services (CPS) or via an external agreement (e.g., OECM, MPBSD, etc.). This refers to a select group of suppliers vetted and approved by CPS to provide goods and services to the University, resulting in EVoR / Approved Supplier status available to departments across all three campuses.

Contracting Authorities

Central Procurement Services (CPS)
Responsible for enterprise EVoRs, can integrate external agreements (e.g., OECM, MGSC, etc.), and is available to all departments across all three campuses.

Local Units/Campuses (St.George / UTM / UTSC / F&S / UPDC)

  • Can issue EVoRs for their department/local unit, but not enterprise wide
  • If contracting authorities seek enterprise-wide status, they must consult with CPS and present a business case before issuing the call
  • Can sign contracts through an Open Competitive procurement (RFSQ) to establish a Qualified Supplier List (QSL)
  • QSLs are for regularly required services with varying details and include rules for distributing opportunities and a performance management process

Second Stage Process

A Second Stage process in procurement involves additional steps after selecting pre-qualified suppliers (Enterprise Vendor of Record):

  • Pre-qualified suppliers compete for specific goods, services or projects
  • Specific requirements are outlined, and suppliers respond based on these criteria
  • This process may be faster and ensures that only qualified suppliers participate

Competitive Procurement

A formal process that ensures open and fair competition among suppliers, typically through requests for proposals (RFPs) or invitations to quote (ITQ), aimed at achieving the best value for the University.

Non-Competitive Procurement

Procurement conducted without a competitive process, justified by specific circumstances such as sole source availability, urgency, or other unique conditions that preclude the use of competitive bidding.

For additional information: Non-Competitive Procurement

Open Competitive Procurement

A transparent and fair procurement process that is open to all qualified bidders, ensuring equal opportunity and aiming to achieve the best value for the University.

Request for Proposal (RFP)

For products or services, or to provide alternative options or solutions, it is a process that uses predefined evaluation criteria in which price is not the only factor.

Request for Quotation (RFQ)

To request a response to defined requirements where price is the criterion for award.

Request for Supplier Qualifications (RFSQ)

To evaluate supplier capabilities and qualifications, with the intention of creating a list of qualified suppliers.

Requests for Tender (RFT)

To request a response to supply goods or services based on delivery requirements, performance specifications and terms and conditions.

Request for Information (RFI)

To gather information on supplier interest in an opportunity, or information on supplier capabilities/qualifications.

Invitation to Quote (ITQ)

Used to obtain written supplier quotations, ensuring the procurement process is fair, open, and transparent.

For additional information: Invitation to Quote SOP

Purchase Order (PO)

A formal document issued to a supplier, authorizing the purchase of goods or services. The PO includes details such as quantities, pricing, delivery schedules, and terms and conditions.

Leasing

Leasing is a flexible form of financing that allows the use of a product without having to pay for the full face value. You only pay for the anticipated depreciated value of the item plus the cost of money (interest charge). At the end of the lease (operating lease) you may either return the product, purchase the product at the Fair Market Value or you may choose to re-lease the item based on the then current value and interest rates. These different options for the end of lease terms are structured before the lease is signed (executed).

For additional information: Leasing FAQ

Social Procurement

Procurement practices aimed at achieving positive social outcomes, such as supporting local businesses, promoting diversity, and contributing to community development through the University’s purchasing decisions.

For additional information:  Social Procurement