Finance FN50 - Procurement

Accessed:	2026-07-17
Purpose of series:	Records series documenting the acquisition of goods and services. including bids, tenders, and competitive selection processes.
Scope and contents:	Includes (but not limited to) contracts, specifications, requests for proposals (RFP), requests for tender (RFT), request for information (RFI) or requests for quotes (RFQ), vendor proposals and bids, department requisition forms, purchase orders, related documentation, and related correspondence.
Cross reference:	Vendor account information see: Vendor information (AD41); Surplus & Asset Inventory see: Acquisition and Disposal - Surplus and Asset Inventory (FN51); Warranties see: Acquisition and Disposal - Surplus and Asset Inventory (FN51)
Exceptions:

Primary offices:	Financial Services
Primary office retention trigger:	Superseded / Obsolete
Primary office disposition:	Secure Destruction
Primary office retention period:	7 years
Primary office retention instructions:	S/O = Inquiries and requests concluded, all deliverables and obligations met, or contract terminated. Records maintained until inquiries and requests concluded, all deliverables and obligations met, or contract terminated. Retained for 7 additional years, then securely destroyed. Exceptions: Unsuccessful request for (RFs), bids and tenders, and supporting documentation, will be retained for 7 additional years calendar years from date of submission, then securely destroyed.

Secondary offices:	Units
Secondary office retention trigger:	Superseded / Obsolete
Secondary office disposition:	Secure Destruction
Secondary office retention period:	7 years
Secondary office retention instructions:	S/O = Inquiries and requests concluded, all deliverables and obligations met, or contract terminated. Retained for 7 additional years, then destroyed. Exceptions: All financial documentation and unsuccessful request for (RFs), bids and tenders, and supporting documentation, will be retained for 2 additional years calendar years from date of submission, then securely destroyed.

Retention rationale:

Expected Operational use, and contractual and financial obligations.

Vital records	Electronic systems	Personal information	Official media
Yes	NAS, FAMIS, Banner	Yes	Paper, Electronic

Approval date:	Last updated:	Edited by:	Security classification:
2021-05-31	2021-08-30 10:32:56		Internal

Notes:

Financial Services' Procurement department manages the University-wide purchases. Units manage unit-specific purchases though the Financial Services Procurement Department processes. Other University Provisioned Service = FAMIS, Bids and Tenders