Procurement and Contracting

Introduction

Procurement and Contracting explores the main issues involved in the relationship between a buyer and a seller in a commercial transaction. Procurement is concerned with effective delivery of goods and services. Proper procurement process ensures that goods and services are obtained at the right price and cost, without compromising quality and delivery (time) constraints. The contracting process ensures that the relationship between the buyer and seller is well defined. The contractual documents assign duties and obligations to the parties in a contract.Further the contractual documents should contain the terms and conditions of contract. The aims of the course are:

• To outline the procurement process
• Explain the main procurement methods available for the buyer
• To understand terms and conditions of contract
• To develop a contractual risk management strategy