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What makes the sole sourcesingle sourceexemption formprocuremen legally binding?
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People also ask
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What is the difference between single source and sole source procurement?
Sole sourcing refers to products that are only produced by only a single supplier. Single Sourcing refers to products that are produced by more than one supplier. Single sourcing is more sustainable than sole sourcing as products can be produced by more than one supplier. -
What is an example of sole sourcing?
Single sourcing is also a strategy that a business can use if it hires one company to perform specific services. For example, a technology company with an expansive office building might use single sourcing to employ one commercial cleaning agency to sterilize the entire building every week. -
What are examples of sole source suppliers?
Sole Source Contract Elements For example, a vendor who carries automobile parts that are no longer manufactured is considered a sole source because any company that needs that part must sign a contract with that specific vendor. -
What is an example of sole source procurement?
Additional Examples of Sole Source Justifications Manufacturer markets on a direct basis only. Used or demonstration equipment available at a lower than new cost. Item sold through manufacturer or importer only, and there is no comparable unit made that end user is aware of. Component for existing piece of equipment. -
How do you justify sole source procurement?
Justifications for Sole Source Only a particular brand or "make" is compatible with existing equipment or inventory. Only one source is known for a specialized item of equipment or material. Only one contractor is capable of providing the required service. -
How do you justify a single source procurement?
Justifications for Sole Source Only a particular brand or "make" is compatible with existing equipment or inventory. Only one source is known for a specialized item of equipment or material. Only one contractor is capable of providing the required service. -
What is a sole source in procurement?
What is “sole source” procurement? Procurement by noncompetitive proposals, referred to as sole source procurement, is procurement through solicitation of a proposal from only one source. Sole source procurements must adhere to the standards set forth in 2 C.F.R. -
What is procurement process sole source?
A “sole source” procurement can be defined as any contract entered into without a competitive process, based on a justification that only one known source exists or that only one single supplier can fulfill the requirements.
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