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
