Value for Money
For procurement of goods /services in excess of $5,000.00, at least 3 bids/quotations should be obtained (unless a case is made out for sole select) and award/recommendation for award made on the basis of objective criteria – compliance with requirements, cost, delivery time etc. Where the cost is equal to or exceeds $5,000.00 approval for award is to be granted by the Board. Under $5,000.00, approval is to be granted by 2 of the Officers of TTTI.
Service contracts should be for periods not greater than a year or the term of the contract under which any funding may be provided; exception being employed staff.
Circulation of contracts signed to Board at monthly meetings or otherwise.
Subject to Delegation of Authorities Guidelines (DOAG), final approval by Board and two signatures of Officers on all contracts. All contracts should be lodged at the office of TTTI.