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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.
These contracts can be made much more quickly than a typical contract, however they are often fraught with suspicion. After the 2003 war in Iraq, the Halliburton company, previously headed by then vice-president Dick Cheney, was issued a $2 billion no-bid contract for fuel distribution. Speed is usually the rationale for such contracts.
By July 2017, 95 contracts and 15 sub-contracts had been brought within the scope of the regulations. These contracts reflected a combined value of £23.9 billion. Ministry of Defence staff had "welcomed" the introduction of the new system of controls and the ability to recognise "excess profits" being earned by sole source contractors. [15]: 6
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.
A sources sought (often capitalized as Sources Sought) notice is used by agencies of the government of the United States to solicit interest in a project under consideration by that agency. They are not requests for proposals or invitations to bid; sources sought come earlier in the procurement process.
A corporation sole is a legal entity consisting of a single ("sole") incorporated office, occupied by a single ("sole") natural person. [1] [2] This structure allows corporations (often religious corporations or Commonwealth governments) to pass without interruption from one officeholder to the next, giving positions legal continuity with subsequent officeholders having identical powers and ...