Monitoring Compliance
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National Development

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Monitoring Compliance
for
National Development

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Liberia_Seal

Monitoring Compliance
for
National Development

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Liberia_Seal

Key Procurement Definitions

Sole source procurement is one in which only one supplier can provide the commodity, technology and/or perform the services required.

National publicity of invitation to bid on the contract for projects, with lower technical qualification requirements than international competitive bidding, allowing smaller firms the ability to compete.

ICB is the standard competition method used within the Agency under formal bidding for acquiring goods and services. The NCI Agency ICBs are issued under sealed bidding procedures known as Invitations for Bid (IFB).

restricted bidding means a procurement method whereby only suppliers who are invited by the procuring entity may submit a bid; Sample 1. restricted bidding means a competitive procurement method whereby only the economic operators preselected by the licensee may participate in the procurement process.

Request for quote (RFQ) is a process wherein an enterprise asks a set of potential suppliers or service providers to submit their price quotations and stand a chance to supply or provide goods or services.

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