Contracts and procurement regulations

Contracts and procurement regulations are rules that organizations follow to buy goods and services fairly, transparently, and legally. They ensure that the process of selecting suppliers is open, competitive, and free from favoritism. These regulations outline how to advertise needs, evaluate bids, and finalize agreements, aiming to get the best value and quality while preventing fraud or unfair practices. Essentially, they provide a structured framework to ensure public and private entities spend resources responsibly and ethically.