NASSAU, BAHAMAS — There is no limit on how many contracts a company can be awarded under the new public procurement system, a Ministry of Finance official said yesterday.
Carl Oliver, deputy director of economic planning in the Ministry of Finance, while addressing a webinar hosted by the ministry yesterday, said: “There is no limit on the number of contracts that can be awarded to a vendor. If a vendor submits a bid with respect to procurement activity and if he or she is successful, then they receive the contract for that assignment.”
He added: “We have experts who examine closely all bids that come in and make a decision as to which vendor proposal fits the description as to the procurement activity they want to advance on. A vendor can have as many contracts as the procurement board desires based on the proposals submitted. There is no limit.”
Businesses are being urged to register with the government’s e-Procurement system. The Ministry of Finance said last week that over 2,200 businesses have already registered.
The Ministry of Finance’s eProcurement and Supplier Registry System (ePSR) enables businesses interested in securing government contracts to participate in a “360-degree digital procurement process”.
Some 33 agencies have been trained on the new Public Procurement legislation.
The procurement legislation has special provisions to allow the minister of finance to allocate a percentage of the procurement budget to small businesses, which are businesses with no more than a maximum of 50 employees and revenue under $1 million annually. What that percentage will be has not yet been determined, finance officials said yesterday.
The Public Finance Management Act, Public Debt Management Act and the Statistics Act took effect on July 1; and the Public Procurement Act will take effect on September 1.
Loading ...
