Compliance For New Federal Regulation On Purchase Orders Over $10,000 Used For Research Grants
Last updated on JULY 18, 2017
Applies to:PeopleSoft Enterprise SCM Purchasing - Version 9.2 and later
Information in this document applies to any platform.
On : 9.2 version, Purchase Orders
Compliance for new Federal regulation on Purchase Orders over $10,000 used for research grants.
Will Oracle provide a functional solution in the procurement module for the new Federal regulation which will impact Oracle’s customers, who are research hospitals and universities?
The link below is the new Federal regulation.
Navigate to 200.317 and open each section from .317 to .326
In summary, the new regulation would be on any purchase orders greater than $10,000 used for research grants. It would require a minimum of three competitive bids, unless the item is only available from a single source. For compliance and audit purposes there needs to be a way to provide a mechanism for users to document the bids that were rejected or to certify that it’s only available from one source.
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