The purpose of this Statement is to outline procedures whereby University departments and offices may lease, rent, or purchase computer and data processing equipment. Time spent comparison shopping at this website is a good way to be sure departments obtain a competitive price. As such, departments are not required to use them. The department will prepare and submit a requisition to the Purchasing Department using Peoplesoft. The lease or rental of equipment is generally discouraged since, if the equipment is required on a continuing basis, purchase is generally more economical.
Lease agreements are for a definite period of time, usually one to three years.
Rental agreements are normally for an indefinite period of time and can be terminated after giving stated advance notice, usually 30 days. A. Procedure for Rental or Lease of Equipment 1. The Department will prepare and submit to the Purchasing Department a purchase requisition using the Peoplesoft process.