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Acquisition vs. Procurement

It is not uncommon for an asset under consideration to not require involvement by personnel from UVA’s Procurement & Supplier Diversity Services (PSDS). This may be for a variety of reasons; the acquisition may not meet the expenditure threshold, does not require competition, does not necessitate a contract review, or is not a restricted purchase. In addition, many assets being deployed are free or open-source, developed in-house, or can be purchased using the T&E Purchasing Card.

For the purposes of this guidance, only those assets requiring engagement by PSDS are considered procured. Other assets are acquired through a variety of methods. This document will refer to “acquisition” or “acquiring” an asset in a general sense. When the terms “procured” or “procuring” an asset are used, it should be assumed PSDS is involved.