What does micro-purchase mean in relation to the GPC program?

What does micro-purchase mean in relation to the GPC program?

• A. A purchase that requires multiple approvals
• B. A purchase of supplies or services where the total does not exceed the micro-purchase threshold
• C. A purchase that can only be made through online vendors
• D. A purchase that does not require any documentation

Answer: (B)

A micro-purchase in relation to the GPC program refers to a purchase of supplies or services where the total does not exceed the micro-purchase threshold defined by federal regulations. This threshold is established to streamline small purchases, allowing designated personnel to make procurements quickly and with minimal administrative burden. Micro-purchases typically do not require competitive bids or extensive documentation, facilitating efficiency in acquiring low-cost items. Understanding this definition is crucial, as it helps those involved with the GPC program recognize the types of purchases that can be made without extensive oversight, enabling faster acquisition processes for small-scale needs within federal procurement guidelines.

A micro-purchase in relation to the GPC program refers to a purchase of supplies or services where the total does not exceed the micro-purchase threshold defined by federal regulations. This threshold is established to streamline small purchases, allowing designated personnel to make procurements quickly and with minimal administrative burden. Micro-purchases typically do not require competitive bids or extensive documentation, facilitating efficiency in acquiring low-cost items.

Understanding this definition is crucial, as it helps those involved with the GPC program recognize the types of purchases that can be made without extensive oversight, enabling faster acquisition processes for small-scale needs within federal procurement guidelines.