How to Become a Supplier
At The Principal it is policy to engage in competitive buying and formalized bidding practices which include Request for Information (RFI), Request for Proposal (RFP), and contract negotiations.
When a need arises, we usually solicit bids from suppliers.
- We don't solicit a set number of bids for every purchase.
- We select the suppliers we believe can meet our needs the best.
- We try to develop new sources by requesting bids from suppliers who have not previously quoted.
By keeping in contact with us throughout the year, you will be more likely to be aware of potential opportunities for bidding.
We do not solicit bids for standardized items for which we have established contracts. However, we review these contracts occasionally and you may have opportunities to bid at those times.
How we evaluate bids
All bids will be evaluated to determine if they meet our needs. Bids are subject to the following:
- All bids will be kept confidential.
- Once they are received, bids are considered final and suppliers are expected to honor them.
- Substitutes may or may not be accepted for certain items.
- The bid sheet will explain your options. Please let us know if you can't match the exact specifications for an item we are requesting.
We evaluate all products and services. Samples, models and demonstrations that you can provide are helpful in this process.
Who to contact
If you would like additional information about our purchasing areas or practices, please send an e-mail to The Principal.
