Project grants are temporary funds that are provided for a particular purpose or project. These grants are normally based on merit, and they are offered in a competitive way to organisations or individuals. They are usually applied in fields such as research, healthcare, education, and community development. These grants are given by federal, state and […]
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Block grants are the large sums of money provided by the federal government (such as the federal government) to some lower government (such as states or cities). They are to be used on general-purpose programs like health, education, or public services. It is up to the governments in those areas to decide how to spend
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An electronic reverse auction is an online procurement technique whereby suppliers enter a contest to bid on an item at a low price. When a traditional auction is being undertaken, the buyers are expected to bid higher; while in a reverse auction, the buyers are expected to reduce the price of their goods to win.
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Framework agreements are long-term contracts between a buyer and one or multiple suppliers. It provides terms and conditions such as price, quality and delivery, but does not involve fixed quantities of purchases. It does create a framework for future contracts when particular needs surface. Such agreements facilitate repeated procurement of frequently used goods, services or
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Two-stage tendering is a two-stage type of the procurement process. The process starts with the shortlisting of suppliers in regard to their qualifications and experience in the first stage. This is to enable early identification of competent vendors by buyers. The second level deals with proposals of details such as prices and technical solutions. It
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The Dynamic Purchasing System (DPS) is an entirely electronic procurement procedure. It is applied to commonly bought goods, services, or works. DPS enables a buyer in the public sector to view a list of suppliers that have been pre-qualified. It remains open to the addition of new suppliers all the time. It is the key
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The Dynamic Purchasing System (DPS) is an entirely electronic procurement procedure. It is applied to commonly bought goods, services, or works. DPS enables a buyer in the public sector to view a list of suppliers that have been pre-qualified. It remains open to the addition of new suppliers all the time. It is the key
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Open tendering is a public procurement procedure. The process of inviting bids is facilitated through public advertisements. It makes the procurement process transparent. Equal opportunity is given to all potential suppliers. The approach enhances competitive advantages. The government sector usually prefers open tendering. It stops favouritism and corruption. Bid submission, evaluation, and selection are involved
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Single-source procurement is a procurement method in which the buyer chooses a single supplier without issuing other tenders. The process does not rely on having no choice. This isn’t the same as sole sourcing, in which there is only one supplier. Single sourcing is a decision, usually because of convenience, quality, or a preexisting relationship.
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A Blanket Purchase Agreement (BPA) is a pre-determined contract that is applied in procurement. It is an agreement that enables repetitive purchases. It does not require separate bidding every time. It deals with a particular time frame. Ordering can be made on demand. It provides terms, conditions, and prices early. BPAs decrease paperwork and time.
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