Procurement Act

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Procurement Act

The purpose of this Act is to establish institutional structures for managing public procurement and provide procedures for procurement of goods, works, services and other contract terms; administration of concession agreements; and disposal of unserviceable, obsolete, or surplus stores, and equipment by public entities. This Act is intended to:

(a) Maximize economy and efficiency in public procurement, and obtain best value for money.
(b) Promote transparency and competition by providing equal access to bidding
opportunities and information
(c) Promote integrity, fairness, proficiency, and accountability in order to increase
public confidence in the procurement system.
(d) Facilitate promotion of local industry and economic development.

Procurement Act

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