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A sole-source procurement activity is where a contract is offered to known vendor(s) instead of conducting open competition, and the resulting contract is known as a sole-source contract. FAR Part 6 specifically forbids sole-source contracting when it is due to a lack of advanced planning.
Use of "sole source" contracts without proper justification. Use of prequalification standards in specifications to unnecessarily exclude otherwise qualified contractors. Dividing requirements to qualify for small-purchase procedures to avoid scrutiny for contract review procedures of larger purchases.
Multisourcing is the concept of working with multiple suppliers who are also competitors. [1] Large-scale buyers, such as the U.S. federal government, may want to feel assured that there is more than one supplier for an item.
In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. [1] The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done.
The sole source option is the part of the selection of bidders that acknowledges there is sometimes only one reasonable supplier for some services or products. This can be because of the limited applications for the product cannot support more than one manufacturer, proximity of the service provided, or the products are newly designed or ...
The regulatory framework for single source defence contracts came fully into force in December 2014, after Parliamentary approval was confirmed for the Single Source Contract Regulations 2014. [4] In March 2015, the Secretary of State for Defence accepted the SSRO's recommendation for a 10.6% baseline profit rate for the coming year (2015/2016 ...
The second and follow-on sole source to Oshkosh contract allows for 6,262 JLTVs to be ordered by November 2023. In September 2020 a Justification and Approval (J&A) for up to an additional 6,262 JLTVs was granted, the original notice published in June 2020.