What You Should Know
Through our relationships with contract suppliers, strategic sourcing, and systems that minimize paperwork and increase the accuracy and accountability of purchases, we can dramatically reduce the cost of the products and services we need. As a steward of the University’s resources, it is prudent to take advantage of these savings tools now in place.
Buy from Our Contract Suppliers
Use the Prime Marketplace or Prime Financials to buy goods and services from more than 450 suppliers with whom we have negotiated term contracts. Supplier contracts have been structured to take advantage of the University's buying power, offering departments the best possible pricing. The ordering process is simple, automated, ensures fast delivery, and should be your first choice when making a purchase.
Competition between suppliers is one of the most effective ways to secure the best available product and/or service at the most favorable price and/or terms. The University requires competitive bidding for high-valued items and contracts for services greater than $5,000. Contact Procurement Services for assistance in initiating the RFP/Bid Process.Sourcing events are transacted electronically using Sourcing Director, an electronic sourcing tool. Please review the competitive bid requirements in the general principles policy.
Save Sales Tax
Princeton University is exempt from sales tax in most states. When you buy from our contract suppliers through the Marketplace or using Prime Financials, sales tax isn’t charged. But, when you use your University Credit Card or pay directly, take a state sales tax exemption form with you and ensure that the supplier does not charge sales tax on your purchase. Each state that allows an exemption has its own form, so if you are making a purchase outside New Jersey, take that state’s exemption certificate.
Use Concur to Book Travel
Booking with suppliers through Concur can save time, money and, in the case of rental cars, ensure that you are properly insured when you travel on University business.
Consider Surplus Items before You Buy New
Seek Opportunities for Cooperative Purchasing
The purchasing department has cooperative purchasing arrangements with several external groups. Purchasing also uses a cooperative purchasing approach to combine purchasing power with other University departments.