Common use of PROCUREMENT OF EQUIPMENT, GOODS AND SERVICES Clause in Contracts

PROCUREMENT OF EQUIPMENT, GOODS AND SERVICES. 15.1 The Institution shall exercise the utmost financial prudence in the procurement of the Equipment, other goods and services for or incidental to the Fellowship and shall, unless otherwise agreed in writing by the Government, adhere to the procurement procedures of the Institution or shall meet the minimal requirements in Clauses 15.1 (a) to (c) below: (a) for every procurement of the Equipment, other goods or services the aggregate value of which does not exceed HK$50,000, written price quotations from at least two suppliers or service providers shall be obtained. The procurement contract should, unless otherwise agreed by the Government, be awarded to the supplier or service provider submitting the lowest price quotation; (b) for every procurement of the Equipment, other goods or services the aggregate value of which exceeds HK$50,000 but does not exceed HK$1,400,000, written price quotations from at least five suppliers or service providers shall be obtained. The procurement contract should, unless otherwise agreed by the Government, be awarded to the supplier or service provider submitting the lowest price quotation; and (c) for every procurement of the Equipment, other goods or services the aggregate value of which is more than HK$1,400,000, there shall be open tendering. The procurement contract should be awarded to the supplier or service provider in accordance with the terms of the tender. 15.2 All quotations and tendering documents issued by the Institution for procurement of goods and services shall be kept by the Institution for at least 7 years after the Closure of the Fellowship or for any other period as may otherwise be specified by the Government. The Institution shall upon request by the Government forthwith produce the same for inspection by the Government at all reasonable times. 15.3 The Institution shall ensure that all the procurement for the Equipment, goods and services for and incidental to the Fellowship are carried out in an open and fair manner. The Institution shall ensure a system for declaration and management of interest is in place and followed and observe the Corruption Prevention Best Practices developed by the Independent Commission Against Corruption in procurement for Equipment, goods and services as updated from time to time.

PROCUREMENT OF EQUIPMENT, GOODS AND SERVICES. 15.1 The Institution shall exercise the utmost financial prudence in the procurement of the Equipment, other goods and services for or incidental to the Fellowship Project and shall, unless otherwise agreed in writing by the Government, adhere to the procurement procedures of the Institution or shall meet the minimal requirements in Clauses 15.1 (a) to (c) below: (a) for every procurement of the Equipment, other goods or services the aggregate value of which does not exceed HK$50,000, written price quotations from at least two suppliers or service providers shall be obtained. The procurement contract should, unless otherwise agreed by the Government, be awarded to the supplier or service provider submitting the lowest price quotation; (b) for every procurement of the Equipment, other goods or services the aggregate value of which exceeds HK$50,000 but does not exceed HK$1,400,000, written price quotations from at least five suppliers or service providers shall be obtained. The procurement contract should, unless otherwise agreed by the Government, be awarded to the supplier or service provider submitting the lowest price quotation; and (c) for every procurement of the Equipment, other goods or services the aggregate value of which is more than HK$1,400,000, there shall be open tendering. The procurement contract should be awarded to the supplier or service provider in accordance with the terms of the tender. 15.2 All quotations and tendering documents issued by the Institution for procurement of goods and services shall be kept by the Institution for at least 7 years after the Closure of the Fellowship Project or for any other period as may otherwise be specified by the Government. The Institution shall upon request by the Government forthwith produce the same for inspection by the Government at all reasonable times. 15.3 The Institution shall ensure that all the procurement for the Equipment, goods and services for and incidental to the Fellowship Project are carried out in an open and fair manner. The Institution shall ensure a system for declaration and management of interest is in place and followed and observe the Corruption Prevention Best Practices developed by the Independent Commission Against Corruption in procurement for Equipment, goods and services as updated from time to time.

PROCUREMENT OF EQUIPMENT, GOODS AND SERVICES. 15.1 The Institution shall exercise the utmost financial prudence in the procurement of the Equipment, other goods and services for or incidental to the Fellowship and shall, unless otherwise agreed in writing by the Government, adhere to the procurement procedures of the Institution or shall meet the minimal requirements in Clauses 15.1 (a) to (c) below:: SAMPLE (a) for every procurement of the Equipment, other goods or services the aggregate value of which does not exceed HK$50,000, written price quotations from at least two suppliers or service providers shall be obtained. The procurement contract should, unless otherwise agreed by the Government, be awarded to the supplier or service provider submitting the lowest price quotation; (b) for every procurement of the Equipment, other goods or services the aggregate value of which exceeds HK$50,000 but does not exceed HK$1,400,000, written price quotations from at least five suppliers or service providers shall be obtained. The procurement contract should, unless otherwise agreed by the Government, be awarded to the supplier or service provider submitting the lowest price quotation; and (c) for every procurement of the Equipment, other goods or services the aggregate value of which is more than HK$1,400,000, there shall be open tendering. The procurement contract should be awarded to the supplier or service provider in accordance with the terms of the tender. 15.2 All quotations and tendering documents issued by the Institution for procurement of goods and services shall be kept by the Institution for at least 7 years after the Closure of the Fellowship or for any other period as may otherwise be specified by the Government. The Institution shall upon request by the Government forthwith produce the same for inspection by the Government at all reasonable times. 15.3 The Institution shall ensure that all the procurement for the Equipment, goods and services for and incidental to the Fellowship are carried out in an open and fair manner. The Institution shall ensure a system for declaration and management of interest is in place and followed and observe the Corruption Prevention Best Practices developed by the Independent Commission Against Corruption in procurement for Equipment, goods and services as updated from time to time.