In What Ways You Think Life Would Be Better After 50 Years
Procurement Policy: (Procurement procedure - General Guidelines as per General Financial Rules, 2005.) Vide Ministry of Finance, Government of India’s OM No. 1/12/E.II(A)/94 dated 29.7.2005, special dispensation from the procedure of inviting tenders/quotations provided to Kendriya Bhandar have been withdrawn. Now any purchase/procurement of goods for use is guided by the General Financial Rules, 2005. An attempt has been made to demystify the procurement procedure for easy understanding of all. Guideline is on different category/types of purchases. Based on the General Financial Rules, 2005, following procedure needs to be followed:
(i) Specifications in terms of quality, type and quantity to be procured should be clearly spelt out.
(ii) Excess purchase should be avoided to avoid inventory carrying costs.
(iii) Offers should be invited following a fair, transparent and reasonable procedure.
(iv) The procuring authority should be satisfied that the selected offer adequately meets the requirements.
(v) The procuring authority should be satisfied about the price of the selected offer as reasonable and consistent with the quality required.
(vi) Procuring authority must place on record precisely the considerations which weighed while taking the procurement decision.
(vii) Demand for goods should not be divided into small quantities to make piecemeal purchases to avoid necessity of obtaining sanction of higher authority.
(viii) Tender/procurement process should be initiated well in advance to avoid last minute hurry. (ix) Before purchase, necessity angle approval from the competent authority should be taken, clearly mentioning, quantity, estimated expenditure and manner of purchase, in addition to the competent authority’s approval at the end. (1) Registration of Suppliers:
(i) For establishing reliable source for procurement of goods commonly
(i) Specifications in terms of quality, type and quantity to be procured should be clearly spelt out.
(ii) Excess purchase should be avoided to avoid inventory carrying costs.
(iii) Offers should be invited following a fair, transparent and reasonable procedure.
(iv) The procuring authority should be satisfied that the selected offer adequately meets the requirements.
(v) The procuring authority should be satisfied about the price of the selected offer as reasonable and consistent with the quality required.
(vi) Procuring authority must place on record precisely the considerations which weighed while taking the procurement decision.
(vii) Demand for goods should not be divided into small quantities to make piecemeal purchases to avoid necessity of obtaining sanction of higher authority.
(viii) Tender/procurement process should be initiated well in advance to avoid last minute hurry. (ix) Before purchase, necessity angle approval from the competent authority should be taken, clearly mentioning, quantity, estimated expenditure and manner of purchase, in addition to the competent authority’s approval at the end. (1) Registration of Suppliers:
(i) For establishing reliable source for procurement of goods commonly