The JIF Commissioners follow both the procedures established by the Public Contracts Law and the best practices recommended by the New Jersey Controller. The MEL also retains a Qualified Purchasing Agent (QPA) who oversees the process.
At the intervals established by law, the JIFs advertise RFQs (Request for Qualifications) for all functions using a format adapted from the standard RFP used by the New Jersey Department of Purchasing. The responses are initially reviewed by the commissioner committee responsible for that particular function. Depending on the circumstances, the Commissioners may retain an independent consultant to help evaluate the responses.
At the end of the process, the commissioners rate each proposal using an evaluation form adopted before the responses are received. The recommendation then goes to the full board of commissioners for final ratification. All contracts, including the position of Executive Director and Fund Attorney, are subject to the RFQ process.