The underlying purposes and policies of this Act shall be: (I) to simplify, clarify, and modernize the law governing procurement by the Government; (II) to permit the continued development of procurement policies and practices; (III) to harmonise and conform with international procurement standards and best practices; (IV) to provide for increased public confidence in the procedures followed in public procurement; (V) to provide for increased public confidence in the procedures followed in public procurement; (VI) to ensure the fair and equitable treatment of all persons who deal with the procurement system of the Government; (VII) to provide increased economy in Government procurement activities and to maximize to the fullest extent practicable the purchasing value of public funds of the Government; (VIII) to foster effective broad-based competition within the free enterprise system; and (IX) to safeguard for the maintenance of a procurement system of quality and integrity. This Act shall apply to every expenditure of public funds irrespective of their source by the Government, acting through a governmental body as defined herein, under any contract. This Act shall cover all entities that receive funding through the annual Appropriation Act, including grants to local government councils, state-owned-enterprises, community organizations, and non-profit agencies. This Act lays down provisions on the roles and responsibilities of the Minister of Finance, Secretary of Finance, Chief Procurement Officer, procuring entities, and Bid Committee; procurement policies and principles; integration of procurement into all phases of public financial management and service delivery; qualifications and responsibility of the bidders; types of contracts; procurement records; dispute resolution mechanism; standards of conduct in procurement; and offences and penalties.
Îles Marshall · 2023-01-01