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Diocese of Westminster Education Service Page 1 CAPITAL PROCUREMENT POLICY AND GUIDANCE FOR SCHOOLS AND COLLEGES WITHIN THE TRUSTEESHIP OF THE DIOCESE OF WESTMINSTER ROLES AND RESPONSIBILITIES OF
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01
Start by understanding the purpose of the capital procurement policy.
02
Identify the key stakeholders involved in the procurement process.
03
Gather necessary information about the company's budget and capital requirements.
04
Create a structured template for the policy, including sections such as objective, scope, procedures, and evaluation criteria.
05
Outline the specific steps involved in the procurement process, from planning to contract administration.
06
Include guidelines for vendor selection, contract negotiations, and performance evaluation.
07
Define the roles and responsibilities of individuals involved in the procurement process.
08
Ensure compliance with relevant laws, regulations, and ethical standards.
09
Regularly review and update the capital procurement policy to reflect changing needs and best practices.
10
Provide training for employees involved in the procurement process to ensure understanding and adherence to the policy.

Who needs capital procurement policy and?

01
Government organizations and agencies
02
Publicly traded companies
03
Large corporations with significant capital expenditures
04
Non-profit organizations that rely on capital investments
05
Companies in regulated industries that require approval for capital projects
06
Any organization seeking to set guidelines and procedures for capital procurement to ensure transparency and efficiency.
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Capital procurement policy is a set of guidelines and procedures that govern the acquisition of assets and investments by a company.
Companies and organizations that engage in major capital purchases or investments are required to file capital procurement policy.
Capital procurement policy can be filled out by detailing the company's procurement process, approval authority levels, evaluation criteria, and reporting requirements.
The purpose of capital procurement policy is to ensure transparency, accountability, and sound decision-making in the acquisition of capital assets and investments.
Information such as the rationale for the purchase, budget allocation, vendor selection process, risk assessment, and evaluation criteria must be reported on capital procurement policy.
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