Public Procurement Contracts: Conclusion and Contract Award Information

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What is one of the conditions for the advance payment to a contractor or small/microenterprise according to the text?

Withdrawal of the advance requires only the signature of the Public Body.

The advance should be deposited in a general bank account. (correct)

The advance should be in excess of 50% for road construction contracts.

The payment should be made in cash directly to the contractor.

How can the advance payment be withdrawn based on the agreement?

Only by the supplier's signature.

Through the joint signature of the Public Body and the supplier. (correct)

By the sole signature of the Public Body.

By authorization from the procurement endorsing committee.

When is payment made to the contractor or small/microenterprise?

When it is confirmed that part of their obligation under the contract is fulfilled. (correct)

Irrespective of the progress on the contract.

Before any project obligation is performed.

Upon completion of the project.

How much of an advance payment can be used for equipment acquisition in road construction contracts?

Exactly 50% Signup and view all the answers

Under what condition can a contractor use part of the advance payment for equipment acquisition?

If they pledge or transfer equipment to a third party before project completion. Signup and view all the answers

What type of bank account should be opened for depositing the advance payment?

'Special' bank account Signup and view all the answers

What is required for the contractor to move the equipment acquired with the advance payment to the project site?

Permission from the engineer assigned by the Public Body Signup and view all the answers

When can a subsequent installment due to a contractor be disbursed?

When the equipment is moved by the contractor within the agreed time frame Signup and view all the answers

What is a prerequisite for deducting an advance payment made to a contractor?

Presentation of a payment certificate for work executed or supplies delivered Signup and view all the answers

What is essential for a contract between a Public Body and a supplier to be considered valid?

Agreement on general conditions of contract Signup and view all the answers

What must be clearly stated in a contract between a Public Body and a supplier?

Obligations of both parties and provisions for disputes resolution Signup and view all the answers

What is required for a contract to be deemed concluded between the Public Body and the successful bidder?

Signing a contract containing detailed provisions governing the procurement Signup and view all the answers

What information should a letter of contract award, sent to a successful bidder, contain?

Acceptance of bid, total contract price, performance security amount Signup and view all the answers

If the successful bidder refuses to sign a contract, what action can the Public Body take?

Declare the second most preferred bid as successful Signup and view all the answers

Under what condition does the Public Body return bid security to unsuccessful bidders?

Successful bidder signing the contract and providing security Signup and view all the answers

What does the Public Body do when a successful bidder cannot or is unwilling to sign a contract?

Consider the second most preferred bid or reissue the bid Signup and view all the answers

What is one of the necessary elements for a Public Body to announce the successful bidder?

Acceptance of bid and performance security amount Signup and view all the answers

Public Procurement Contracts: Conclusion and Contract Award Information

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