What does purchase threshold mean?

Micro-purchase threshold means the dollar amount at or below which a non-Federal entity may purchase property or services using micro-purchase procedures (see 200.320).

What is the GSA micro-purchase threshold?

What is the Micro-Purchase Threshold? The current threshold is $2,000 for construction and $2,500 for services. Over the past three fiscal years, nearly 20% of all GSA RWAs were at or under the micro-purchase threshold.

When did the simplified acquisition threshold change to $250000?

June 20, 2018
Summary: As directed in Office of Management and Budget (OMB) Memorandum M-18-18 dated June 20, 2018 (Memorandum M-18-18), EPA has adopted a policy which provides that the 2 CFR 200.1 Micro- Purchase Threshold for procurements by EPA financial assistance recipients and their subrecipients is $10,000 and the 2 CFR 200.1 …

What is the micro-purchase threshold 2022?

While these rates are periodically adjusted for inflation, the thresholds remain unchanged going into 2022. Currently, the micro-purchase threshold is $10,000 and the simplified acquisition threshold is $250,000.

What is the micro-purchase threshold for construction?

Answer: The change in the micro-purchase threshold has no effect on the Service Contract Labor Standards statute, previously known as the Service Contract Act (SCA). The SCA threshold remains at $2,500 for services.

When can I use my Government purchase card?

The Governmentwide purchase card may be used to (1) Make micro-purchases; (2) Place a task or delivery order (if authorized in the basic contract, basic ordering agreement, or blanket purchase agreement; or (3) Make payments, when the contractor agrees to accept payment by the card.

What is the SAP threshold?

Simplified acquisition threshold means the dollar amount below which a non-Federal entity may purchase property or services using small purchase methods.

What is a small purchase?

Small Purchase is a relatively simple procurement method used for securing supplies, services, or other materials. The responsible personnel submits a written or verbal request for price quotes to multiple vendors for goods or services described in detail.