TYPES OF AUCTIONS

A. Informal: it proceeds for the acquisition of equipment or nonprofessional services, whose cost for each requisition of purchase shall not exceed the amount of forty thousand dollars ($40,000.00) for the Services Program and fifteen thousand dollars ($15,000.00) for the Administrative Program. B. Formal: Procedure for the acquisition of goods equipment, materials or services whose quoted cost for each requisition of purchase exceeds the amount of forty thousand dollars ($40,000.00).