Purchasing Policy - Leases
In general leasing equipment is more expensive than buying and departments should refrain from making commitments on funds that have not yet been appropriated. However, on occasion, it makes sense or is absolutely necessary to enter into a lease for equipment. The lease process can be very time consuming; leases are subject to review by legal counsel and signatures at the University of Maine System level. Leased equipment is not exempt from the competitive process, i.e., quotes are obtained for both the purchase price and the lease cost. The Purchasing Department manages a master lease that is usually less expensive than a lease provided by a manufacturer, but it is not available for all purposes.