Purchasing Policy - Town of Innisfil

“Lease” means a time limited grant of either real or personal property from the owner of thatproperty (known as the “lessor”) to another party (known as the “lessee”), under which thelessee is entitled to the use and benefit of the property in question for the period so granted, inexchange for the payment of a stipulated rent to the owner or other consideration. In mostcommercial leasing the rent will take the form of a money payment. There are two types ofleases, financial or capital. All leases shall be forwarded to the CAO and Treasurer for reviewor designates for the appropriate review PRIOR to signing;“Low Cost Purchases” (LCP) means a purchase for goods, service(s) or construction as perthe thresholds indicated in the Purchasing Policy;“Maintenance” means the action and associated costs of keeping a property, vehicle ormaterial in efficient working condition, serviceable condition or to restore it to serviceablecondition or to restore it to serviceability. It includes inspection, testing, servicing, waste andsnow removal and classification as to serviceability, repairs, rebuilding and reclamation;“Material Safety Data Sheets (MSDS)” means Material Safety Data Sheets which must becurrent and submitted by the vendor for all hazardous materials, including an index of chemicalcompounds with details of properties, handling details, precautions and first-aid procedures;“Major bid irregularity” is a deviation from the bid request which affects the price, quality,quantity or delivery, and is material to the award. If the deviation is permitted, the bidder couldgain an unfair advantage over competitors.“Mayor” means the Mayor of the Town or any member of Council acting in the capacity of theMayor;“Minor bid irregularity” is a deviation from the bid request which affects form, rather thansubstance. The effect on the price, quality, quantity or delivery is not material to the award. If thedeviation is permitted or corrected, the bidder would not gain an unfair advantage overcompetitors.“Negotiation” means the action or process of conferring with one or more vendors with thegoal of coming to an agreement on the acquisition of the required goods, services and/orconstruction made pursuant to this policy;“Policy” means a governing principle or plan as set out by Council which establishes thegeneral parameters for the Town to follow in carrying out its responsibilities;“Pre-approved financing” means the funding has been identified and approved by Council;“Privilege Clause” means the standard clause used in bid documents and advertising thatreads in part “the lowest or any tender not necessarily accepted”;“Procure/Procurement/Purchase” means to acquire by purchase, rental, lease or otherwiseacquiring any goods, service(s) or construction; includes all functions that pertain to theacquisition, including the description of requirements, selection and solicitation of sources,preparation and award of contract and all phases of contract administration; here after referredto as Purchase/Purchasing;“Proponent” means is a respondent to a Call for Bid, which is fully capable and qualified tomeet all the requirements as listed in the call for bid, and shall be duly authorized to enter into asubsequent contract agreement on behalf of the named submitter;“Purchase Card” means a credit card issued to an authorized Town staff member(s) to beused for purchasing goods and services from an authorized vendor within establishedguidelines.“Purchase Order” means the Town’s written document to a successful Proponent formalizingall the terms and conditions of a proposed transaction. The purchase order issued by a dulyTHE CORPORATION OF THE TOWN OF INNISFIL Page 8 of 28POLICY CP.19-07-05