Author name: Ganeswar Swain

A Framework Agreement is a long-term contract between a buyer and suppliers that establishes terms and conditions governing future transactions. It is used to streamline procurement by pre-establishing pricing, specifications, and often delivery terms, without committing to specific purchase quantities upfront. These agreements enable purchasers to procure goods or services on an as-needed basis, providing […]

A Framework Contract is a type of agreement between a buyer and one or more suppliers that establishes pricing and terms for the procurement of goods or services over a set period without committing to specific quantities or delivery dates. It allows for streamlined processes through predefined terms and conditions, thereby facilitating faster procurement by

Invitation to Tender (ITT) is a formal procurement procedure used by organizations to solicit bids from suppliers for goods, services, or contracts. It involves inviting potential suppliers to submit tenders, or offers, for the specified requirements, detailing their approach, pricing, and terms. The ITT outlines the scope, evaluation criteria, and submission guidelines, ensuring a competitive

Life Cycle Costing (LCC) is a method that assesses the total cost of ownership of a product or service throughout its entire lifespan. This includes initial capital costs, operating costs, maintenance, and disposal costs, thereby providing a comprehensive view of financial implications over time.

Lots in the procurement context refer to subsets or segments of a procurement process where a larger contract is divided into smaller, manageable parts. Each “lot” represents a distinct section of the procurement which can be separately competed for, allowing multiple suppliers to bid on different parts, thereby increasing competition and potentially fostering better pricing

Most Economically Advantageous Tender (MEAT) refers to a procurement evaluation criterion that assesses tender submissions based on multiple factors beyond just price. It considers a combination of cost and qualitative elements, such as quality, technical merit, aesthetic and functional characteristics, and sustainability. This approach aims to provide a comprehensive assessment to ensure that the awarded

Negotiated Procedure is a procurement method where the contracting authority negotiates the terms of a contract directly with one or more suppliers. This approach is usually employed when specific circumstances prevent the use of open or restricted procedures, such as when only a limited number of suppliers are capable of delivering the required goods or

The Open Procedure is a widely-used public procurement method where any interested supplier can bid for contracts. This approach ensures transparency and competition by allowing multiple suppliers to participate, thus aiming to achieve the best value for the procuring entity.

Pre-Commercial Procurement (PCP) is a procurement process used by public sector organizations to stimulate innovation by purchasing research and development services at an early stage, before commercial products or solutions are available. It allows the procurer to actively engage with suppliers to co-develop innovative technological solutions that fully meet public sector needs. PCP facilitates risk-sharing

A Pre-Qualification Questionnaire (PQQ) is a document used in procurement processes to assess the suitability of potential suppliers or contractors before inviting them to tender. It helps organizations determine which suppliers have the necessary capabilities, resources, and compliance with requirements to successfully execute a project or deliver services. The PQQ typically includes questions about a