Information for Vendors
IIT is interested in developing and maintaining strong vendor relationships by identifying competent vendors, entering into mutually beneficial transactions, and adhering to the highest ethical standards in order to establish IIT as a preferred customer.
The first step in the process of becoming a vendor to IIT is the completion of a Vendor Application Form. Completion of the form is a requirement for vendors awarded contracts by IIT.
As a result of IIT’s decentralized purchasing structure, vendors may be contacted by many different buyers: faculty, department administrators, staff, students, even the Purchasing Department. It is important for vendors to understand whether the individual contacting them has the authority to bind IIT to a sales contract.
It is also important for vendors to understand what they need to do to get paid once they have fulfilled their contracts. The following information should be of help in doing so.
METHODS OF PROCUREMENT
Petty cash can be used for purchases up to $150.
Procurement card (MasterCard) can be used for most purchases up to $1,000
Please note: IIT does not issue purchase orders for amounts under $500. If a procurement card is not being used for a purchase under $500, the purchase is being made using a verbal order.
Verbal Orders can be used for most purchases up to $500 with these exceptions:
• Purchases of consultant services
• Construction work
• Animals
• Hazardous chemicals
• Drugs
• Radioactive materials
• Industrial alcohol that is not denatured
When working under a verbal order, vendors need to understand that, beyond the obvious execution of contract by providing the ordered goods and services, in order to be assured of timely payment, the invoice and any supporting paperwork (quotes / proposals / registration / subscription forms) needs to be provided to the IIT contact person placing the order.
Use of verbal orders is meant to expedite and simplify low cost, low risk purchases, but it is important that vendors make note of enough information to track the processing of payment. At the least, we recommend noting the first and last name of the IIT contact placing the order; that person’s phone number, and the address of delivery.
Purchase Orders (PO's) are required for the procurement of all goods and services in excess of $500.
PURCHASE ORDER NUMBERS
An IIT purchase order number is generated by IIT's financial management software and starts with the letter “P” followed by a seven digit number. Purchase orders are typically faxed to vendors.
INVOICES
Click here for invoicing instructions.
TERMS AND CONDITIONS
All purchases are considered to be subject to IIT’s Terms and Conditions unless covered under the terms of a contract made using an approved IIT standard construction or consulting agreement or a non-standard contract that has been reviewed and approved by IIT’s General Counsel.
INSURANCE
When services are being provided on IIT property (installation, repairs, maintenance, etc.), IIT requires certification of insurance coverage in the format and with the stipulations per the IIT Certificates of Insurance letter.
When quoting work to be done on IIT property, the insurance coverage should be considered.
Insurance Letter to Contractors
MBEs and WBEs
IIT is committed to supporting Minority Business Enterprises and Woman Owned Businesses.
Minority and Women Owned Business Information
INFORMATION FOR NEW VENDORS
When first accepting an order from IIT, new vendors need to supply information for tax purposes.
Tax Identification Request Form - Substitute W9
CREDIT REFERENCE INFORMATION
Tax Exemption and Credit References
TAX EXEMPTION STATUS
IIT is exempted from Illinois Sales Tax
IIT IRS Tax Exemption Letter and FEIN