For all government-funded projects, the quotation should follow the standard procurement process. In general, the process is based on the project fee. The requirement applies on both the BUD Fund and the TVP.
- Project under $2,000
Written quotation NOT required
- Project $2,000 – $50,000
At least TWO written quotations
- Project $50,000 – $300,000
At least THREE written quotations
- Project $300,000 – $1,400,000
At least FIVE written quotations
- Project above $1,400,000
For successful application and reimbursement of government fund, all procurement must follow the above process strictly and the winning vendor should be the one with lowest price. If the applicant cannot fulfil the above requirement, one should explain in detail to the Authority. BizMagnet will discuss with our clients how to observe the rule.