In a procuring contract the contractor has the responsibility of performing the contract as per the terms and conditions of the contract. The procuring entity has the responsibility of meeting its obligation of paying the contractor as per terms and conditions of the contract. These are the basic responsibilities of the parties. For the purpose of ensuring that both parties perform and meet their obligations procurement contracts must be managed. On the part of the procuring entity the procurement contract must be managed with an aim of obtaining goods, works and services as per contract and achieve value for money
THE PROCUREMENT FILE
The Procurement file is important in the management of a procurement contract. The file is opened for the purpose of processing the procurement before the contract is awarded. It contains the following.
- Procurement initiation requisition..
- All correspondence on the procurement.
- Bid document.
- Bids received.
- Evaluation and award of the contract.
- Information on the award of the contract and particulars of the contract.
This file contains very important information and must be handled carefully.
THE CONTRACT FILE
No contract is formed between the person submitting the successful tender and the procuring entity until the written contract is entered into. The contract file shall be opened after the procurement contract is signed and it shall be opened by the contract manager. The file shall be used for recording the actual performance of the requirements indicated in the contract. The file should contain the following:
- Signed original procurement contract.
- Any signed modifications to the contract.
- Contract correspondence between the parties.
- Information on the performance.
- Correspondence on the contract.
- Management progress reports
- Minutes of meetings of project team
- Payment records and close-up documents.
- Copy of performance security (where required)
- Any other relevant information.
