Common Contracts
2 similar Sole Source Contract contracts
SOLE SOURCESole Source Contract • November 19th, 2022
Sole source is a non-competitive purchase or procurement process accomplished after soliciting and negotiating with only one source, so-called sole source, thus limiting Full and Open Competition (FOC). Sole Source is also known as: sole source procurement, sole sourcing, sole-sourced contract, direct sourcing, sole supplier, direct source. No-bid contract is a popular term for what is officially known as a "sole source contract." A sole source contract implies that there is only one person or company that can provide the contractual services needed and that any attempt to obtain bids would only result in one person or company being available to meet the need. It is awarded usually, but not always, by a government after soliciting and negotiating with only one firm. These contracts can be negotiated much more quickly than a typical competitive contract but they are often fraught with suspicion that the company used illegal or immoral means to exclude competitors (usually cronyism or br
SOLE SOURCESole Source Contract • August 13th, 2020
Sole source is a non-competitive purchase or procurement process accomplished after soliciting and negotiating with only one source, so-called sole source, thus limiting Full and Open Competition (FOC). Sole Source is also known as: sole source procurement, sole sourcing, sole-sourced contract, direct sourcing, sole supplier, direct source. No-bid contract is a popular term for what is officially known as a "sole source contract." A sole source contract implies that there is only one person or company that can provide the contractual services needed and that any attempt to obtain bids would only result in one person or company being available to meet the need. It is awarded usually, but not always, by a government after soliciting and negotiating with only one firm. These contracts can be negotiated much more quickly than a typical competitive contract but they are often fraught with suspicion that the company used illegal or immoral means to exclude competitors (usually cronyism or br
