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Procurement Functions

Procurement Functions

The Federal Reserve Bank of Richmond conducts procurements through local and national procurement functions, resulting in the best overall value in goods and services for the Bank.

Local Procurement

Our local procurement function facilitates the acquisition of goods and services necessary for the daily operation of the Bank, including its branches in Baltimore and Charlotte, and for the successful completion of its strategic initiatives.

National Procurement

The Federal Reserve Bank of Richmond, along with the other 11 Reserve Banks in the Federal Reserve System, is supported by the National Procurement Office (NPO). The NPO is a procurement function within the Bank that develops and executes national contracts for certain goods and services that, when sourced collectively, provide the best value for multiple Reserve Banks. The NPO also supports the National IT organization which provides a variety of information technology-related services to the Federal Reserve System.

Policy of Nondiscrimination in Contracting

The Bank does not discriminate on the basis of race, sex, color, religion, national origin, gender identity or expression, sexual orientation, age, genetic information, or disability in the solicitation, award or administration of contracts.

Dodd-Frank Act

The Bank complies with Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 in ensuring the fair inclusion of minority-owned and women-owned businesses in procurement.

How to Become a Supplier

  1. Review our list of products and services that the Bank typically procures.
  2. If the types of goods or services your company provides are a fit for the Richmond Fed, you can create a profile on the Ariba Discovery network using the registration instructions below.
  3. Our Procurement team will utilize profiles on the Ariba Discovery Network to invite prospective suppliers to submit quotes or proposals in response to opportunities.

Registration Information

The Richmond Fed uses Ariba as our standard Procurement sourcing and contract management application. You can create a profile on the Ariba Discovery Network for free.

If you have questions about establishing your company profile, Ariba support can help, or if you have questions about our overall program, please contact us at Procurement Services.

Visit the Supplier Diversity page to learn more about the Richmond Fed's Supplier Diversity and Small Business Programs.

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