Procurement Amendments Raise Contract Cap
The Ministry of Finance approved amendments to the Public Tenders and Procurement System aimed at improving contracting efficiency and enhancing transparency. These include increasing the value of works by no more than 10% and reducing it to 20%. The amendments also stipulate the termination of trusted contracts obtained through bribery, fraud, or manipulation, with the confiscation of the final security deposit. The updates involved revising contract templates and signing procedures, requiring bidders to submit payment schedules, granting the right to reject modifications after agreement, and organizing contract durations and change management processes.
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