Micro Purchases definition

Micro Purchases means a purchase of supplies or services using simplified acquisition procedures, the aggregate amount of which does not exceed the micro-purchase threshold of $3,500.00 in order to expedite the completion of its lowest-dollar small purchase transaction to minimize the associated administrative burden and cost. The micro-purchase threshold is set by the Federal Acquisition Regulations, 48 CFR Subpart 2.1, and can be periodically adjusted for inflation.
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Micro Purchases as defined by 2 CFR § 200.320 means a technique for making purchases under a cost threshold without the requirement for competitive bids or price quotations, if the price is considered reasonable. The District uses such procedures in order to expedite the completion of its lowest-dollar small purchase transactions and minimize the associated administrative burden and cost.
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Micro Purchases means the acquisition of supplies or services, the aggregate dollar amount of which does not exceed the Micro-Purchase Threshold.
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Examples of Micro Purchases in a sentence

  • Please mail or emial this page to: Blue Earth County Human Services 41▇ ▇ ▇▇▇ ▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ ▇▇▇-▇▇▇-▇▇▇▇ BLUE EARTH COUNTY HUMAN SERVICES PROCUREMENT CHECKLIST‌ Micro Purchases ☐ (< $10,000) 2 quotes and/or state contracting pricing.

  • These requirements do not apply to Micro- Purchases, except for Construction contracts over $2,000).

Related to Micro Purchases

  • Micro-purchase means a purchase of supplies or services, the aggregate amount of which does not exceed the micro-purchase threshold. Micro-purchases comprise a subset of a district's small purchases as defined in 2 C.F.R. 200.320.

  • Purchases On the settlement date for the purchase (or earlier, if market practice requires delivery of the purchase price before the settlement date), Bank will debit the Cash Account for the settlement amount and credit a separate account at the Bank. Bank then will post the Securities Account as awaiting receipt of the expected Financial Assets. Customer will not be entitled to the Financial Assets that are awaiting receipt until Bank or a Subcustodian actually receives them. Bank reserves the right to restrict in good faith the availability of contractual settlement date accounting for credit or operational reasons.

  • Net Purchases means purchases of goods and services charged to the Account, less refunds and adjustments;

  • Component purchases means purchases of the component parts of an item that in normal purchasing practices would be made in one purchase. “Separate purchases” means purchases, made sep- arately, of items that in normal purchasing practices would be made in one purchase. “Sequential purchases” means purchases, made over a period, of items that in normal purchasing practices would be made in one purchase.

  • Micro-purchase threshold means the dollar amount at or below which a district may purchase property or services using micro-pur- chase procedures. Generally, the micro-purchase threshold for pro- curement activities administered under federal awards is not to ex- ceed the amount set by the Federal Acquisition Regulations (FAR) at 48 C.F.R. Part 2, Subpart 2.1 [see below], unless a higher threshold is requested by the district and approved by the cogni- zant agency for indirect costs.