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Requisition <br />A written or electronic request from a using department to the Purchasing Office <br />to obtain specific goods or services. <br />Small-Dollar Purchase <br />The purchase of an item(s) for less than $1,000. Procurement Cards may be used <br />for these purchases. <br />Sole Source <br />When performance or price competition for a product is not available; when a <br />needed product is available from only one source of supply; or when <br />standardization or compatibility is the overriding consideration. Pursuant to <br />NCGS § 143-129(e)(6), purchases under this exception must be approved by the <br />governing board. <br />Specifications <br />The parameters, requirements, and instructions that define the exact item or <br />service that is desired and provide the basis for comparing bids. Specifications <br />are generally incorporated into a contract, by reference, to become the successful <br />bidder's legal obligations under the contract. <br />State Contract <br />A contract established by the North Carolina Department of Administration <br />through the Division of Purchase and Contract intended to cover all normal <br />requirements for a commodity or contractual service for a specified period of time <br />based on estimated quantities. <br />Surplus Property <br />Obsolete or worn out materials and equipment which will be disposed of in <br />conformance with State Statutes and competitive conditions, including when <br />necessary, newspaper advertising, electronic bids, and sealed bids. <br />Vendor <br />A seller who exchanges goods and/or services for money. <br />F-5 <br />Page 9 of 48 <br />Attachment number 1 <br />Page 74 <br />