What is the "Micro Purchase" threshold according to New Jersey law?

The "Micro Purchase" threshold, as defined by New Jersey law, is $2,500. This threshold is significant as it allows for simplified purchasing processes for small-scale procurements. Under this threshold, public agencies can procure goods and services without the need for formal bidding processes, which streamlines procurement and enables quicker responses to needs. This category is designed to encourage small purchases that can be completed efficiently and without extensive administrative burden. Understanding this threshold is crucial for Qualified Purchasing Agents as it helps them to navigate the procurement process effectively, ensuring compliance with state regulations while maximizing operational efficiency.