Procurement Regulations

Procurement regulations are rules and guidelines that govern how organizations buy goods and services. They ensure the process is fair, transparent, and competitive, preventing favoritism or corruption. These regulations set procedures for inviting bids, selecting suppliers, and awarding contracts, emphasizing integrity, value for money, and accountability. They help standardize procurement activities across organizations, whether public or private, ensuring resources are used efficiently and ethically. Ultimately, procurement regulations maintain trust in the purchasing process and support responsible management of public and private funds.