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Purchasing

BPM-307 Equipment Leases/Rentals

BPM-307 Equipment Leases/Rentals

Revised October 20, 2010

Equipment should be leased, rented, and/or leased/purchased only when the item in question is to be used for a short period, or when obsolescence factors make purchasing uneconomical or impractical.

Leases of real estate are the responsibility of campus business offices and/or UM Business Services.

AUTHORITY

Procurement may competitively bid or negotiate (sole source if necessary) and approve, within limits delegated by the Chief Procurement Officer, equipment lease and rental agreements and lease/purchases for up to a total of $100,000 sole source, or $500,000 bid, or for periods up to 5 years.

All rental and/or lease/purchase Information Technology (IT) and Telecommunication (Telecom) equipment must be utilized or obtained from the central IT department of each business unit. IT approval for lease/purchase should follow the levels referenced in BPM 1204 – Information Technology and Telecommunication Purchases.

Forms 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.