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Are multiple quotes required for CFI-funded purchases less than $10,000?

Under the University’s Procurement Policy, purchases less than $10,000 can be made directly with a supplier without obtaining additional competitive quotations. However, CFI granting regulations stipulate that if the In-Kind contribution is greater than $1,000, a Fair Market Value (FMV) assessment is required. Having on file additional quotes is one way to validate the In-Kind contribution.

For more information on Fair Market Value, see Purchase for Canadian Foundation for Innovation (CFI) & Ontario Research Fund (ORF) Projects.