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Scope

This policy provides guidance for rental and/or leases of equipment.  Leases of real estate are excluded from this policy and are the responsibility of the campuses respective Business Services Offices.

Reason for Policy

To ensure leases and/or rentals of equipment are procured through competitive bid or negotiation.

Policy Statement

Equipment that can be considered for lease, rental, and/or lease/purchase should only be items that would be used for a short period or when obsolescence factors would make purchasing the item uneconomical or impractical.  Ë¿¹Ïapp System Supply Chain may competitively bid or negotiate (sole source if necessary) and approve, as delegated by the Chief Procurement Officer, equipment leases, rental agreements, and lease/purchases for a total of $100,000 for sole source or $500,000 bid for a term of up to 5 years. 

The form of contracts and agreements for leasing, maintenance, and rental of materials, supplies, equipment and services must be approved as to form by the General Counsel.

Definitions

Accountabilities

Ë¿¹Ïapp System Supply Chain:

• Collaborate with departments for the negotiation or bid of leases, rentals or lease/purchase and execute any contracts and agreements

Departments:

• Collaborate with Ë¿¹Ïapp System Supply Chain to initiate the procurement of equipment in a lease, rental or lease/purchase situation

Additional Details

Forms

Related Information

Policy 12004 on Information Technology & Telecommunication Purchases

History

Formerly Business Policy Manual 307 – Equipment Leases/Rentals (revised 10/20/2010)

Procedure