Public Procurement Law

Public Procurement Law refers to the set of legal rules, regulations, and principles that govern how public authorities—such as government ministries, agencies, and local bodies—purchase goods, services, and works from the private sector. Its main goal is to ensure that public spending is conducted in a fair, transparent, and efficient manner while promoting competition and preventing corruption.

Key Objectives of Public Procurement Law

• Transparency: Ensures all procurement processes are open and accessible, with clear criteria and procedures that can be reviewed and monitored.
• Fair Competition:Creates equal opportunities for all qualified suppliers and contractors, preventing favoritism or bias in the selection process.
• Value for Money:Encourages public entities to achieve the best possible outcome in terms of quality, cost, and efficiency when spending public funds.
• Accountability:Establishes responsibility and oversight mechanisms for officials involved in procurement to minimize misuse of public resources.
• Integrity and Anti-Corruption:Aims to reduce fraudulent practices, conflicts of interest, and other forms of corruption through strict compliance and monitoring procedures.

Core Elements of Public Procurement Law

• Legal Framework: Sets the foundation for how tenders are announced, evaluated, and awarded.
• Bidding Procedures:Defines open, restricted, and negotiated tendering methods, including electronic procurement systems.
• Evaluation and Awarding:Establishes criteria for evaluating bids, ensuring decisions are based on merit and transparency.
• Contract Management:Governs the execution, monitoring, and modification of awarded contracts.
• Dispute Resolution:Provides mechanisms for suppliers to challenge unfair treatment or procedural irregularities.