What is a procurement regulation?

What is a procurement regulation?

Procurement regulations are rules that local, state, and federal governments must follow when they award contracts for services to private companies. The purpose behind procurement oversight is to ensure that governments act in a fair and cost-efficient manner in awarding these often lucrative contracts.

What does the public procurement regulation include?

The Public Procurement Act and its regulations regulate: The procurement of goods, services and works financed in whole or in part from ‘public funds’.

What is OJEU in procurement?

OJEU stands for the Official Journal of the European Union (previously called OJEC – the Official Journal of the European Community). This is the publication in which all tenders from the public sector which are valued above a certain financial threshold according to EU legislation, must be published.

What is an OJEU contract?

When a public sector body within the European Union wants to buy any goods, works, or services over a certain value (“threshold”) it must advertise in the Official Journal of the European Union (OJEU). This advertisement takes the form of a contract notice, also known as a tender notice.

What is OJEU procurement?

What is OJEU procurement? OJEU procurement is governed by an elaborate set of regulations, all designed to create a fair, standard and transparent set of rules applicable to every country in the EU, and to the UK at least until the end of the transition period.

What does OJEU mean in procurement?

What is OJEU process?

What does PCR stand for in procurement?

PCR Procurement Abbreviation

1 PCR Public Contract Regulations + 1 Contract, Purchase, Regulation
0 PCR Public Contract s Regulations Government, Contract, Regulation

What is the purpose of the public procurement Act?

Purpose of the Act. to promote competition and ensure that competitors are treated fairly; to promote the integrity and fairness of those procedures; to increase transparency and accountability in those procedures; and. to increase public confidence in those procedures.

When was the procurement Act amended?

AN ACT to amend the Public Procurement Act, 2003 (Act 663), to make further provision for public procurement, re-enact Part Two of the Act, provide for decentralised procurement and for connected purposes.

What do the OJEU rules mean for the public sector?

The OJEU rules regulate the purchasing by public sector bodies and certain utility sector bodies of contracts for goods, works, services or supplies (known as public works contracts). Kate says “The key differential under the OJEU rules is that local authorities entering into a joint venture for purely investment purposes does…

Are contracts below OJEU subject to EU regulations?

Any contracts “Below OJEU” (yes another procurement term) doesn’t fall under EU regulations. However, any procurement, regardless of the value needs to be fair, transparent and have sufficient advertising to enable competition amongst suppliers. Where to find OJEU opportunities? Around 2500 new OJEU notices are advertised each week.

What is OJEU and why does it matter?

What is OJEU? Public procurement is different from when private companies do business. As public sector organisations are financed by public money raised from taxes, procurement must be fair, transparent and offer value of money to the taxpayer.

What are the procurement procedures under OJEU?

When a buyer decides to undertake a procurement (buy something) that has to be advertised in the OJEU, they have to follow one of a set of procurement procedures. The Public Contracts Regulations 2015 set out the procedures, each of which consists of a set of steps that must be followed by both buyers and suppliers.