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National Power Corporation REQUEST FOR QUOTATION (SMALL VALUE PROCUREMENT 53.9) August 18, 2022Sir/Madam; Please provide us with your best quotation for the items as specified in the Terms of Reference

How to fill out small value procurement

How to fill out small value procurement

1. To fill out small value procurement, follow these steps:
2. Determine the goods or services you need to procure.
3. Identify potential suppliers that can provide the goods or services.
4. Prepare a Request for Quotation (RFQ) document that clearly describes the requirements, quantities, and any specific terms and conditions.
5. Send the RFQ to the selected suppliers and give them a reasonable time to respond.
6. Evaluate the quotations received and select the most suitable supplier based on factors such as price, quality, delivery time, and supplier reputation.
7. Notify the selected supplier of their successful bid and negotiate the final terms of the procurement.
8. Prepare a purchase order or contract that outlines the agreed-upon terms and conditions and send it to the supplier.
9. Monitor the delivery of the goods or services and ensure compliance with the agreed-upon terms.
10. Process the payment to the supplier once the goods or services have been delivered and accepted.
11. Keep proper records of the procurement process for future reference and auditing purposes.

Who needs small value procurement?

1. Small value procurement is typically needed by organizations or individuals who require goods or services of relatively low value.
2. This could include small businesses, startups, non-profit organizations, government agencies, educational institutions, or individual consumers.
3. It is often used for purchasing consumables, office supplies, minor repairs, maintenance services, or small-scale consulting or professional services.
4. Small value procurement is a cost-effective and efficient way to fulfill specific needs without going through a complex and lengthy procurement process.

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What is small value procurement?

Small value procurement refers to a streamlined purchasing process for acquiring goods or services that fall below a specified monetary threshold, allowing for quicker and less formal purchasing methods.

Who is required to file small value procurement?

Organizations, businesses, or government entities that engage in purchasing goods or services below the set threshold are required to file small value procurement.

How to fill out small value procurement?

To fill out a small value procurement, complete the necessary forms by providing detailed information about the goods or services being procured, the estimated cost, vendor details, and ensure all required approvals are obtained.

What is the purpose of small value procurement?

The purpose of small value procurement is to simplify the purchasing process for low-cost items, encourage efficiency, and reduce the administrative burden associated with larger procurement processes.

What information must be reported on small value procurement?

Information that must be reported includes the description of items or services, vendor information, cost estimates, and any relevant approvals or contract details.