What Are The 7 Core Principles Of Public Procurement?
From the smallest town to the largest city, public procurement is an essential component of governmental operations. Governments undertake numerous purchases every day, from office supplies to construction contracts, and it’s vitally important that these transactions are conducted lawfully and in a transparent manner that best serves the public interest. But what exactly are the core principles underlying successful public procurement? In this blog post, we’ll explore seven key principles of effective public procurement that will help ensure fairness, transparency, competition and value for money for all stakeholders. So buckle up as we take you through each principle step by step!
The Purpose of Public Procurement
Public procurement is the process of selecting a supplier or contractor to provide goods, services, or construction activities through competitive bidding. It is an important part of government procurement because it helps ensure that the best possible products or services are obtained at the lowest possible cost.
The core principles of public procurement are competition, transparency, and accountability. Competition ensures that suppliers are forced to compete for business, which drives down prices and improves quality. Transparency ensures that bidders know what they are bidding on and why, so they can make informed decisions. Accountability ensures that government officials who award contracts are held accountable for their decisions.
Public procurement is often referred to as “the golden rule of government contracting.” That is, governments should contract with suppliers who offer the best value for the money. Public procurement also enables governments to diversify their supply chains by contracting with companies from different parts of the world.
The Seven Core Principles of Public Procurement
The seven core principles of public procurement are: price reasonableness, fairness, transparency, competition, due process, and integrity. These principles help ensure that taxpayer money is spent efficiently and effectively. They also protect the rights of suppliers and ensure that government contracts are awarded fairly and in a transparent manner.
Guidelines for Implementing the Core Principles of Public Procurement
1. The core principles of public procurement are transparency, competition, merit-based selection and impartiality.
2. Transparent procurement procedures allow for fair and open competition, while ensuring that government decisions are based on objective criteria.
3. The principle of merit-based selection ensures that the best possible goods and services are procured without prejudice to the bidder’s financial or political ties to the government entity purchasing them.
4. Independence is critical in ensuring impartiality, as government decisionmakers must be free from any personal or partisan interests that could interfere with their ability to make sound decisions.
5. Take into account all relevant factors when making a purchase – cost, quality, schedule, and other considerations – in order to achieve the best results for the taxpayer dollar.
Public procurement is a process through which government buys goods and services from private businesses. The seven core principles of public procurement are open and transparent bidding, fairness, integrity, efficiency, good governance, partnership, and human rights. These principles help ensure that the government receives goods and services at a fair price while also satisfying the needs of both the supplier and the taxpayer. In addition to these fundamental principles, public procurement laws in different countries may also include provisions specific to public sector procurements such as international trade agreements. By understanding these basic concepts as well as the specific provisions of your country’s public procurement law, you will be able to successfully carry out public procurement transactions within your jurisdiction.