Procurement Act

The Procurement Act is a set of laws and regulations governing how government agencies purchase goods and services. It aims to ensure fairness, transparency, and efficiency in public spending. By outlining procedures for bidding and awarding contracts, the Act helps prevent corruption and favoritism, ensuring that taxpayer money is spent wisely. It typically involves open competition, where suppliers can submit proposals, and mandates that decisions are based on value for money rather than personal connections. Ultimately, the Procurement Act seeks to promote accountability in how public resources are allocated and managed.