This policy was approved at the November 20, 2025 meeting of the Board of Governors.
About the policy
FN05: Procurement establishes the standards and principles governing all procurement activities conducted on behalf of VIU to ensure expenditures are managed and accounted for properly. It guides all procurement activities in compliance with relevant laws and regulations, promotes ethical practices, and mitigates associated risks, while supporting VIU's strategic objectives and operational needs.
Consultation on the draft policy is now closed. The consultation took place from October 15 until 4 pm on November 4. The updated draft policy was submitted to the Board and was approved at the November 20, 2025 meeting. Thank you to everyone who provided feedback.
Policy information
A board level policy meets the fiduciary responsibility of the board to ensure proper oversight and management of university expenditures.
The policy was developed in collaboration with BCNET to align with best practices for procurement and financial controls. The 42.31.001 Purchasing (former procedure) was replaced by a number of more comprehensive departmental standards and procedures, including Procurement Operational Procedure, Contract Signing Authority Standard, and Spending Authority Standard.
Documents for review
Consultation Draft:
Consultation Report:
Previous Policies: