Spend University Resources Wisely

LAST UPDATED: September 2, 2015

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.

Competitive Bids

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 purchasing for assistance in initiating the RFP/Bid Process. Beginning in May 2015, sourcing events will be transacted electronically using Sourcing Director, an electronic sourcing tool managed by our eProcurement partner, SciQuest. 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 PeopleSoft, 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 vendor 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

You might be surprised by what you find in Princeton University’s Surplus Program. Log in to find office furniture, computer peripherals, office and scientific equipment for reuse in your department at no charge.

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.


 

CONTACT US

finance@princeton.edu
Tel (609) 258-3080
Fax (609) 258-0442

Princeton University
Office of Finance & Treasury
701 Carnegie Center
Princeton, NJ 08540

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FINANCIAL SERVICE CENTER

7 New South
Tel (609) 258-3080
Fax (609) 258-5040
Open Monday through Friday,
8:45 am — 5:00 pm

SERVICES INCLUDE

Customer service, cashiering,
check pick-up, financial system access

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