PROCUREMENT POLICY
TABLE OF CONTENT
1.0 Introduction.……………………………………………………………………………………………………………………………………..4
2.0 Policy Statement……………………………………………………………………………………………………………………………….4
3.0 Scope……………………………………………………………………………………………………………………………………………….4
4.0 Objectives………………………………………………………………………………………………………………………………………...5
5.0 The Procurement Process………………………………………………………………………………………………………………...6
5.1 Process Details……………………………………………………………………………………………………………………………....6
5.2 Procedure for Staff and Departments Requesting Routine Items…………………………………………….….10
5.3 Procedure for Foreign Purchasing…………………………………………………………………………………………...….10
6.0 Vendor Management………….…………………………………………………………………………………………………………..12
6.1 Sourcing……………………………….……………………………………………………………………………………………..……….12
6.2 Onboarding……………………………….………………………………………………………………………………………….....….13
6.3 Management and Performance Evaluation………………………………………………………………………….....…..13
7.0 Delays………………………………………………………………………………………………………………………………………..……14
8.0 Returns……………………………………………………………………………………………………………………………………..…….15
9.0 Approval Chain and Limit………………………………………………………………………………………………………...…….18
10.0 Cancellation of Contract…………………………………………………………………………………………………….....……..18
11.0 Addendums and Extensions………………………………………………………………………………………………...………19
12.0 Deviations……………………………………………………………………………………………………………………………………19
13.0 Conflict of Interest and Conflict Resolution…………………………………………………………………………......…19
13.1 Conflict Resolution……………………………………………………………………………………………………………...……20
14.0 Stock Taking………………………………………………………………………………………………………………………….……..20
15.0 Ownership and Enforcement……………………………………………………………………………………………………….20
15.1 Compliance and Enforcement…………………………………………………………………………………………………..20
15.2 Legal and Regulatory Compliance……………………………………………………………………………………..……..20
16.0 Risk Management………………………………………………………………………………………………………………………..21
17.0 Policy Controls…………………………………………………………………………………………………………………………….21
18.0 Separation of Duties…………………….…………………………………………………………………………………………..…22
19.0 Policy Review and Update……………………………………………………………………………………………………….....23
20.0 Version History……………………………………………………………………………………………………………………………23
21.0 Stakeholders’ Concurrence………………………………………………………………………………………………………....23
22.0 Appendices……………………………………………………………………………………………………………………………...….24
1.0 INTRODUCTION
The Concept Group (TCG) procurement policy has been prepared to assist the vendor community in understanding how to do business with TCG.
TCG is one of the largest providers of financial and technical assistance in Nigeria.
All procurement of goods works or services by subsidiaries of TCG deserves the highest degree of public trust and must be conducted within the standards of global best practice.
The procurement unit is responsible for all procurement activities of TCG. Essentially working as a service unit, the procurement unit serves as a coordinator between the requester and the supplier. The procurement unit must follow this manual in discharging their duties and adhere to thorough purchasing practices. The procurement unit currently resides in the Internal operations department.
2.0 POLICY STATEMENT
This Procurement Policy serves as a foundation for maintaining high standards of professionalism, ethics, and efficiency in the processes involved in the purchase of goods and services for the use of the organization (TCG). All staff members are expected to familiarize themselves with and adhere to the principles outlined in this policy.
This policy shall serve as a guide to all staff engaged directly or indirectly in the procurement of goods, works and services to ensure that best practice, efficiency, effectiveness, economy and competitiveness are achieved.
All departments / entities are free to contact the procurement unit when in doubt about purchasing procedures. Instructions will be made available on the handling of orders or problems. The essence of this is to prevent errors and mix-ups due to improper handling.
3.0 SCOPE
This document covers the processes in the following areas:
• Material Services.
• Contract Servicing.
• Foreign purchasing.
It also contains samples of the purchase requisition form, letter for contract award and contract service agreement.
4.0 OBJECTIVES
The objective of this policy are as follows:
• Effective and efficient service delivery to all departments
• Ensures the organization gets value for every naira spent.
• To buy the project and company’s required materials, components, machineries, industrial equipment, consumables, services in the required quantity at the most advantages price and economic cost.
• To address potential delay in obtaining delivery.
• To build up supplier goodwill by such means as fair dealing, the provision of cooperation and assistance and ensuring prompt payment
• To clearly define how purchases are made.
5.0 THE PROCUREMENT PROCESS
5.1 PROCESS DETAILS
1. Identify Need:
The procurement officer or user department/requester identifies a need within the organization or department. This could be a request for goods, services, or both.
2. Define Requirements:
The procurement officer or user department/requester clearly defines the requirements for the goods or services. This may involve collaboration between the procurement team and the end-user(s) to ensure that the specifications are accurate and comprehensive.
3. Initiate Request (Requisition Form):
Once a need is identified, the procurement officer or user department/requester uses a requisition form to formally initiate a request for the purchase of the required items or services. The requisition form includes details such as the description of the items, quantity, specifications, delivery requirements, and any other relevant information. The form is to be signed by the requester and the head of department requesting the item or service.
4. Submit Request (Send Requisition Form to Procurement Department):
The completed requisition form is then emailed to the procurement unit. This unit is responsible for managing and overseeing the procurement process.
5. Obtain and Get Approvals:
The procurement officer forwards the requisition form to the internal audit department to investigate the need for that item or service. The head of the internal audit team will append their signature to the requisition form to indicate that the need for that item or service is justified.
o For routine items or services, skip to step 6.
o Extra-budgetary items/services will be sent to the GM for final approval before going to step 6.
6. Identify Potential Suppliers:
The procurement officer researches and identifies potential suppliers who can meet the specified requirements. This would involve get information from the potential vendors regarding the item or service to be purchased. These vendors may be those currently registered or new vendors. The procurement officer is advised to source for new vendors from time to time in order to compare prices with the current vendors.
7. Issue a Request for Proposal (RFP) or Quotation (RFQ):
Based on the information received in the previous step, the procurement officer issues an RFP or RFQ to the selected suppliers. This document outlines the detailed requirements, evaluation criteria, and terms and conditions.
8. Receive and Evaluate Bids/Proposals:
On receipt of bids or proposals from interested suppliers, the procurement officer evaluates them based on predefined criteria, such as price, quality, delivery time, and other important factors.
9. Negotiation (where applicable):
The procurement officer conducts negotiations with selected suppliers to finalize terms and conditions. This may include price adjustments, delivery schedules, and other contractual terms.
10. Select Supplier:
After thorough evaluation and negotiation, the procurement officer alongside the internal audit officer selects the supplier that best meets the organization's needs. The chosen vendor is notified and a final agreement is reached.
11. Contract Award:
The contract is awarded to the selected supplier. This involves issuing a formal contract or purchase order that outlines the agreed-upon terms and conditions.
12. Delivery and Inspection:
The procurement officer notifies the user department that the item or service has been delivered and is to be inspected. On delivery, the internal audit team and the user department conduct inspections to ensure that the item/service meet the specified requirements and quality standards.
13. Acknowledge Receipt:
The user department acknowledges the receipt of the item/service via email.
14. Invoice and Payment:
The supplier sends their invoice and the procurement officer forwards this to the accounts department for payment in accordance with the agreed-upon payment terms. Invoices above 100,000 naira are to be sent to the GM for approval before the accounts department pays the vendor.
15. Confirm Payment:
The procurement officer confirms that the vendor has received payment.
16. Keep Records:
The procurement team maintains thorough records of the entire procurement process, including contracts, communications, and invoices. Proper recordkeeping is essential for audit purposes and continuous improvement.
NOTE:
o The process above is for restocking routine items and when a department requests a service or extra-budgetary item. Any request from the software or IT team should also follow this process.
o Where the agreement indicates that payment will be made before delivery, step 14 comes before step 12.
|
Step |
Action |
Party Responsible |
|
1 |
Identify Need |
Procurement Officer/Requester |
|
2 |
Define Requirements |
Procurement Officer/Requester |
|
3 |
Initiate Request |
Procurement Officer |
|
4 |
Submit Request |
Requester |
|
5 |
Obtain and Get Approvals |
Procurement Officer and Approving Party |
|
6 |
Identify Potential Suppliers |
Procurement Officer |
|
7 |
Issue a Request for Proposal (RFP) or Quotation (RFQ |
Procurement Officer |
|
8 |
Receive and Evaluate Bids/Proposals |
Procurement Officer |
|
9 |
Negotiation |
Procurement Officer and Internal Audit Officer |
|
10 |
Select Supplier |
Procurement Officer and Internal Audit Officer |
|
11 |
Contract Award |
Procurement Officer |
|
12 |
Delivery and Inspection |
Internal Audit Officer |
|
13 |
Acknowledge Receipt |
Requester |
|
14 |
Invoice and Payment |
Accounts Officer |
|
15 |
Confirm Payment |
Procurement Officer |
|
16 |
Keep Records |
Procurement Officer |
5.
2 PROCEDURES FOR STAFF AND DEPARTMENTS REQUESTING ROUTINE ITEMS
1. Identify Need:
The user department/requester identifies a need within the department. This could be a request for A4 papers, pens, etc.
2. Submit Request:
The user department fills a Google form with their name, designation, email and item being requested.
3. Prepare Item:
The procurement officer checks that the item is available and prepares the item for the requester.
4. Notify Requesting Party:
The procurement officer notifies the requester that the item is ready for pickup.
5. Pickup and Acknowledge Receipt:
The user department picks up the item and acknowledges its receipt in response to the email sent as a notification.
5.3 PROCEDURE FOR FOREIGN PURCHASING
This includes the payment for imported items. The accounts department shall determine the proper disposition of payments whether to arrange it on letter of credit or indirect payment mode.
Receive Items:
Items are received by the procurement unit with the following documents:
Original Invoice
Courier/ shipping documents (Bill of lading, AWB, etc.)
1. Sight Items:
Received items are forwarded to internal audit for sighting.
2. Obtain Approvals:
Invoices or letters for advance payments with the above documents are forwarded to the approving party.
3. Vet Documents:
Approved Invoice or letter for advance and final payments forwarded to internal audit for vetting.
4. Process Payment:
Vetted and stamped documents sent to accounts for payment.
5. Confirm Payment:
The procurement officer confirms that the vendor has received payment.
6. Keep Records:
The procurement team maintains thorough records of the process, including contracts, communications, and invoices for audit purposes and continuous improvement.
NOTE:
o For foreign purchases, all payments are made before shipping commences.
o Any exception to the above should be clearly explained in the order and approved by the GM/MD.
6.0 VENDOR MANAGEMENT
The procurement officer will work with the vendor manager to source vendors for the unit. The procedure guiding the sourcing, onboarding and management of vendors in the procurement unit is highlighted below.
6.1 SOURCING
This involves the identification and selection of vendors who meet the organization’s standards for quality, reliability, and cost-effectiveness. The following must be considered when sourcing vendors:
• Price: The goal should always be to get the maximum value for the lowest possible cost. To be assured that the best deal is obtained, there is a need to for more than one bid.
• Quality of Products/Service: Price doesn’t matter if the product or service is poor quality. Where applicable, ask to see samples of the vendor’s previous work.
• Check References: It should be required that each vendor submits a list of at least three references. The procurement officer will be required to call the references and ask questions that border on quality of service or product, customer relationship, how delays and returns are handled, punctuality, etc.
• Customer Service: Online reviews may help buttress points pertaining to how the vendor manages their customers, how fast they resolve issues and how cordial the staff is. Good customer service is important to maintain a good working relationship with the vendor.
• Ethics and Integrity: Consideration of sustainability and ethical practices in the vendor's operations and how well they adhere to standards and regulations.
• Ability to Constantly Supply Products/Services: This is especially important for products or services that need to be regularly supplied. Any vendor with supply issues will affect TCG’s ability to ensure that products are available when needed.
• Sustainability and Financial Stability: This should be checked to ensured that the vendor does not run out of business very quickly.
• Delivery Timeline: It is important to know that deliveries can be made where and when needed.
6.2 ONBOARDING
This is the establishment of a formal relationship with selected vendors through a structured onboarding process. This process involves signing agreements or contracts outlining terms, conditions, and expectations, compliance with legal and regulatory requirements, provision of necessary documentation, including insurance and certifications and introducing the vendor to the relevant internal processes and systems.
6.3 MANAGEMENT AND PERFORMANCE EVALUATION
Vendor management involves effectively managing ongoing vendor relationships to ensure consistent service delivery and adherence to contractual terms. This includes ensuring that both parties (TCG and the vendor) adhere to the terms of contract, ensuring timely payment off the vendor, etc. Management also involves regular performance evaluation to ensure alignment with TCG’s goals and expectations. Such evaluation will take place twice a year (every 6 months). It will be conducted by representatives of the procurement unit, the vendor management unit and the internal audit unit. The performance review will be based on the number of deliveries the vendor has made within the period in review. The following KPIs (Key Performance Indicators) must be considered:
• Price: Is the price still fair and the best in the market (having considered product quality and current market price)?
• Quality of Product/Service: What do the user departments rate the quality on a scale of 1 to 10?
• Issues Resolution: How quick are they to resolve issues (depending on what is agreed in the contract)? How many issues were reported and how many were resolved?
• On-time Delivery: How many products/services were delivered? How many of them did they deliver on time?
Conduct formal review meetings with vendors to discuss performance and areas for improvement. Vendors who perform poorly (less than 60% score) should be replaced.
NOTE: The KPIs for performance evaluation must be included in the agreement or contract signed during the onboarding process.
7.0 DELAYS
All agreements or contracts with vendors should include a timeline for delivery, depending on the item and the policy of both parties. Typically, items within Nigeria should not exceed 7 working days and 30 to 60 days for items coming from outside the country. Slight delays such as a day or two (depending on where the item is being supplied from) may be inevitable. A ‘grace period’ of 3 working days within Nigeria and 10 working days outside the country will apply to all contracts that experience delays. However, longer periods of delay or constant delays should not be encouraged and will follow the stipulation in the “addendums and extensions” clause in this policy. The following are ways to manage delays from vendors.
Set clear expectations in the agreement or contract.
Monitor supplier performance as it relates to on-time delivery (OTD) – as agreed with the supplier.
Diversify supplier base.
Establish penalties in the agreement/contract.
Delays may occur when items are not delivered on time.
|
S/N |
Instance |
Process |
|
1 |
Where the item(s) has/have been paid for. |
a) ( a) The procurement officer reaches out to the supplier to get reasons for the delay and the new expected time of delivery. b) (b) If the new expected date of delivery is breached, the measures in the contract are implemented e.g. a full refund, a partial refund, an extra time. c) (c) Where the supplier does not refund or supply the item(s), the matter is escalated to the legal department of RFS. |
|
2 |
Where payment has yet to be made. |
a) (a) The procurement officer reaches out to the supplier to get reasons for the delay and the new expected time of delivery. b) (b)While awaiting the new date, the procurement officer engages other suppliers. c) (c) If the new expected date of delivery is breached, the supplier is informed that the company has decided to go with another supplier due to the delays. d) (d)The procurement officer engages the new supplier to supply the item(s).
|
8.0 RETURNS
Upon receipt and inspection of any item, the department may identify a need to return an item or more for various reasons:
|
S/N |
Reason |
Process |
|
1 |
Receives correct item but item is damaged or not up to specification. |
a. a. The Procurement Officer engages the supplier and sends a detailed email stating the reasons for the return with pictures or videos for clarity. |
|
2 |
Receives more than was ordered e.g., receives 3 instead of 2 cartons of A4 ream. |
a. The Procurement Officer engages the supplier and notifies them that the item supplied was more than requested. b. Request that the supplier sends a Return Authorization number or the name, phone number and designation of an officer who would receive the item and the address where the item(s) will be returned. c. Alternatively, the supplier may opt to pick up the item. d. Where the item is being returned, the Return Authorization number or the name, phone number and designation of the receiving officer and return address should be written boldly on the item. e. Where there are multiple items, label each separately. f. Return the item and obtain a written or signed proof of delivery. |
|
3 |
Receives wrong item |
f. a. The Procurement Officer engages the supplier and sends a detailed email stating that the wrong item(s) was/were delivered.
|
NOTE: Internal audit and compliance should be copied in mails for every returned procured item.
9.0 APPROVAL CHAIN AND LIMIT
|
Approval amount |
Process |
Approval 1 |
Approval 2 |
Approval3 |
Approval 4 |
|
Below 100,000 naira |
Periodic Purchases |
Head, Internal Operations |
Finance and Accounts |
Internal Audit |
- |
|
Extra Budgetary |
Head, Internal Operations |
Finance and Accounts |
Internal Audit |
- |
|
|
Services |
Head, Internal Operations |
Finance and Accounts |
Internal Audit |
- |
|
|
Foreign Purchases |
Head, Internal Operations |
Finance and Accounts |
Internal Audit |
- |
|
|
100,000 naira and above |
Periodic Purchases |
Head, Internal Operations |
General Manager |
Finance and Accounts |
Internal Audit |
|
Extra Budgetary |
Head, Internal Operations |
General Manager |
Finance and Accounts |
Internal Audit |
|
|
Services |
Head, Internal Operations |
General Manager |
Finance and Accounts |
Internal Audit |
|
|
Foreign Purchases |
Head, Internal Operations |
General Manager |
Finance and Accounts |
Internal Audit |
10.0 CANCELLATION OF CONTRACT
Under certain circumstances, canceling a contract may be deemed in the company's best interest, especially in cases of non-performance by a vendor or other compelling reasons. Similarly, a supplier/vendor might express the desire to terminate a contract. In such instances, the procurement officer will notify the party who approved the purchase, with the audit team included in the communication. The approving party will then assess and grant approval for the cancellation.
11.0 ADDENDUMS AND EXTENSIONS
If the circumstances related to the fulfillment of a contract evolve after its signing, modifications to the contract may become necessary. These modifications should be officially documented in an addendum to the contract, which must be signed by both parties involved. The party responsible for approving the initial purchase is required to authorize any changes to the contract.
In cases where the delivery timeline is extended, a 'grace period' of 3 working days within Nigeria and 10 working days outside the country will be applicable for all contracts facing delays. During this period, the requirement for an addendum will be temporarily waived. However, if further delays beyond this grace period occur, a formal written addendum will be necessary to address the revised delivery schedule.
12.0 DEVIATIONS
In exceptional circumstances, it may be considered in the best interests of the company to deviate from the procurement policy or procedures. Only the General Manager has the authority to waive the application of certain provisions of the policy and related procedures. If this waiver is applied, the case must be documented by the procurement officer and sent to the Accounts and Internal Audit team for review.
13.0 CONFLICT OF INTEREST AND CONFLICT RESOLUTION
All stakeholders involved in the procurement process must offer professional, objective, and impartial services or advice, prioritizing the company's interests above all else. They should refrain from considering future work and strictly avoid conflicts with other assignments or personal interests. Engaging in activities conflicting with prior or current obligations to other parties, which may hinder the execution of the assignment in the company's best interest, is prohibited.
Staff members bear the responsibility of disclosing any conflicts and addressing them with the Internal Audit and Legal teams. The procurement team is also tasked with communicating the directive to disclose conflicts of interest to current and potential vendors.
13.1 CONFLICT RESOLUTION
The internal audit unit is responsible for resolving any conflict that may arise in the procurement process. Examples of such include vendor disputes, disagreement between internal stakeholders, budgetary conflicts, payment disputes, quality issues, conflict of interest, etc. The internal audit unit is to be contacted in such situations and they must ensure that the dispute and resolution are properly documented.
14.0 STOCK TAKING
A periodic assessment and record of the amount of stock held by the organization will be carried out by the Internal Audit team every quarter. This is for items purchased regularly such as A4 paper, pens, toilet paper, handwash, etc. All departments must have a stock card detailing current stock and period utilization of the item.
15.0 OWNERSHIP AND ENFORCEMENT
It is the responsibility of the procurement unit in the Internal Operations department of TCG to implement and enforce this policy. All other departments and units are expected to adhere strictly to the guidelines and processes in this policy.
15.1 COMPLIANCE AND ENFORCEMENT
The internal audit unit will ensure that the processes outlined in here are strictly adhered to by the procurement unit. Failure to follow the prescribed procedures and guidelines herein can result in financial losses, damaged reputation, legal issues, and missed opportunities for TCG. Therefore, non-compliance to the terms of this policy on the part of members of staff will be visited with stringent disciplinary measures at the discretion of the internal audit unit.
15.2 LEGAL AND REGULATORY COMPLIANCE
The procurement process, especially when dealing with third parties must comply with all federal and state legal and regulatory provisions.
16.0 RISK MANAGEMENT
There are a variety of risks inherent in the procurement process. Staff members involved in procurement are required to consider risk when planning procurement processes, and in the management of contracts. The impact of any unwanted event occurring and the likelihood of that happening will vary depending on the nature and value of the procurement.
17.0 SEPARATION OF DUTY
The concept of separation of duty, also referred to as segregation of duties, is a foundational principle within the procurement process aimed at strengthening control mechanisms and mitigating the risk of fraud or errors. This principle revolves around the distribution of tasks and responsibilities among distinct individuals or departments, aiming to prevent any single person from having absolute control over a crucial process. The implementation of separation of duty can take various forms. These have already been highlighted in this document. However, they are presented here for emphasis.
Initiation and Approval:
The person initiating a procurement request should be different from the individual responsible for approving it. This separation helps prevent conflicts of interest and ensures that procurement requests are scrutinized by someone other than the requester. Where the GM needs to make a request, the approval must come from someone else such as the Head of Internal Audit.
Ordering and Receiving:
The individual responsible for placing orders (procurement officer) should be distinct from the person receiving and inspecting (internal audit officer) the delivered goods or services. This separation ensures an independent verification of the received items.
Recordkeeping and Auditing:
The personnel responsible for maintaining procurement records (procurement officer) and those conducting internal audits (internal audit officer) should be different. This separation helps ensure the integrity of records and provides an independent review of procurement processes.
18.0 POLICY CONTROLS
1. This procurement policy supersedes all previous procurement policies and may be amended from time to time as deemed necessary to reflect changes in best procurement practice
2. All procurements must be verified by the internal audit department.
3. A minimum of 2 invoices must be presented for all products or services. More than 2 invoices will be expressly required where the cost of the product or service is more than 100,000 naira.
4. Internal audit and compliance should be copied in mails for every returned procured item.
5. All stakeholders in the original approval mail should be copied to ensure alignment.
6. The Separation of Duty clause must be upheld on all procurement request in departments. Departmental and unit heads must approve all procurement requests emanating from their department.
7. All departments must keep a stock card for all physical items procured showing, current stock date of new stock and re-order level for such stock.
8. Approval for extra-budgetary items must be sought and received before requisition of item.
9. Contract staffs cannot initiate procurement request.
10. The Head, Internal Audit and General Manager have the authority to rule on any cases of ambiguity in the interpretation and application of the Policy.
11. The Internal Operations team as a whole is responsible for executing this policy. The Head of the Internal Operations department must report on the policy and specific problems experienced in its implementation.
12. Sanctions may be imposed in terms of disciplinary procedure on any staff member who fails to comply with this policy. This is as stated in the “compliance and enforcement” clause.
13. No amendment(s) may be made to any section of this policy without following the appropriate procedures and informing all stakeholders.
14. Any deviation from this policy must be expressly approved in writing by the General Manager or his/her delegate.
19.0 POLICY REVIEW AND UPDATE
This policy is subject to revision at any time without advance notice. It is however recommended that reviews be done once a year. All revisions take precedence over previous policies and become effective immediately upon approval.
20.0 VERSION HISTORY
|
Version |
Revision Date |
Description of Change |
Author |
Stakeholders’ Concurrence |
|
1.0 |
14/12/2023 |
First draft |
Obiageli Mbah |
Chima Annonye Abdullahi Boladale Ayodele Kappo
|
|
|
|
|
|
|
|
|
|
|
|
|
22.0 APPENDICES
APPENDIX A: LIST OF PROCUREMENT ITEMS
Refer to the Link - LIST OF PROCUREMENT ITEMS | TCG Information Hub (rosabonfinance.net)
APPENDIX B: REQUSITION FORM
Rosabon Financial Services
Purchase Requisition Form
No:
Date:
From:
To: Admin Department
Expected delivery Date:
Please order the following items for----------------------------------------------
|
S/N |
Quantity required |
Unit |
Description of items |
Possible supplier |
Remarks |
|
|
|
|
|
|
|
Requisition by: --------------------------------------------------------------
Name: -----------------------------------------------------------------------
Signature: -------------------------------------------------------------------
Date: ------------------------------------------------------------------------
Recommended by (HOD):--------------------------------------------------
Name: -----------------------------------------------------------------------
Signature: -------------------------------------------------------------------
Date: ------------------------------------------------------------------------
Approved by ():-------------------------------------------------------------
Name: -----------------------------------------------------------------------
Signature: -------------------------------------------------------------------
Date: -------------------------------------------------------------------------
Received by:
Name: ------------------------------------------------------------------------
Signature: --------------------------------------------------------------------
Date: --------------------------------------------------------------------------
APPENDIX C: REQUEST FOR QUOTATION
Rosabon Financial Services
Purchase Requisition Form
INQUIRY
(A request for quotation. Do not regard as an order)
To:
Dear Sir,
Inquiry on --------------
Please, forward quotation to us on your letter head papers, within--- days for the supply of the undermentioned materials, delivered free to our stores at the above address or----. Also state your earliest delivery period and discount to be allowed and other conditions.
Yours faithfully,
Procurement Officer
APPENDIX D: LETTER OF CONTRACT AWARD
ROSABON FINANCIAL SERVICES,
32, Montgomery Road,
Yaba.
Dear Sir,
LETTER OF CONTRACT AWARD
With reference to your recent tender submitted to the above-named company for the following services:
1.
2.
3.
We hereby wish to inform you that your tender is successful and hope that the contract will be executed in a timely, efficient, and hitch-free manner.
Please accept the assurances of our management’s highest consideration.
Thank you.
Yours faithfully,
Head (User Department) Head, Internal Operations
APPENDIX E: CONTRACT SERVICE AGREEMENT (CSA)
CONTRACT SERVICE AGREEMENT (CSA)
BETWEEN
ROSABON FINANCIAL SERVICES LIMITED
AND
ABC NIGERIA LTD
THIS AGREEMENT is made the 13th Day of APRIL, 2020 between ABC NIGERIA LIMITED, a company incorporated in Nigeria whose registered office is situated at 6th Floor Mulliner Towers, Alfred Rewane Road (Former Kingsway Road) Ikoyi, Lagos (herein after refers to “ABC ” which expression shall where the context admits including its successors in title and assigns) of the one part and ROSABON FINANCIAL SERVICES LIMITED having its registered office at 32, Montgomery Road Yaba Lagos State, Nigeria (herein after refers to as “ROSABON” which expression shall where the context admits include its successors in title and assigns) on the other part.
WHEREAS:
a) ”ABC” and “ROSABON” have agreed for the following services to be carried out by “ABC” within ---------days
• -
• -
• -
b) That Rosabon will pay ABC the sum of---------- as advance payment and the balance after execution and inspection of the contract.
c) That if not done within the stipulated number of days as agreed, the sum of N000 shall be deducted for each day of non-completion of contract from agreed number of days from ABC sum.
d) That this must not be transferred to third party without written approval from Rosabon.
e) That in an event that ABC fails to complete the contract, the advance payment made to him would be refunded to Rosabon.
TENURE OF CONTRACT:
This contract is for a non-cancellable period of NINETY (90) days and shall be renewable afterwards if “ABC” and ROSABON so agree.
IN WITNESS WHEREOF the parties hereto have caused their respective common seal to be affixed the day and year first above written
THE COMMON SEAL of the within-named ROSABON FINANCIAL SERVICES LIMITED was hereto affixed in the presence of:
…………………………………………… ………….…………………………
Head, (User-Department) Head, Internal Operations
THE COMMON SEAL of the within-named ABC LIMITED was hereto affixed in the presence of:
…………………………………………… ………….…………………………
SIGNATURE SIGNATURE
…………………………………………… ………….…………………………
NAME & DESIGNATION NAME & DESIGNATION
No Comments