Document background
The Purchase Requisition Form is a critical internal control document used in U.S. organizations to standardize and control the procurement process. It serves as the initial formal request for purchasing goods or services, requiring detailed information about the items needed, their specifications, estimated costs, and business justification. The form is designed to ensure compliance with both federal and state procurement regulations, as well as internal organizational policies. It typically requires various levels of approval based on the purchase value and type, creating a clear audit trail from request to authorization. The document is particularly important for maintaining budgetary control, preventing unauthorized purchases, and ensuring transparent procurement practices. Organizations use this form to initiate both routine operational purchases and strategic acquisitions, making it a fundamental tool in the procurement lifecycle.
