94 TOWARDS THE FUTURE OF SUSTAINABLE EXPORTS BUDGET MANAGEMENT 1. Procurement Principles All MATRADE procurement activities are founded on good governance practices, and adherence to the following procurement principles: PROCUREMENT UNIT 2. Procurement Management The procurement management process is as follows: 1. Identify needs 2. Allocation 3. Market Research 4. Approval for implementation PLANNING 1. Preparation of Terms of Reference 2. Establishment of Committee 3. Approval of Terms of Reference IMPLEMENTATION 1. Technical Evaluation 2. Price Evaluation 3. ICT Consultant Evaluation ASSESSMENT 1. Product/Service Quality Assurance 2. Technology Transfer MONITORING 1. Project Monitoring Schedule 2. Liquidated Ascertained Damages (LAD) Actions 3. Contract Termination 4. Warranty Period 5. Performance Bond Release CONTRACT ADMINISTRATION PROCUREMENT MANAGEMENT PROCESSES PROCUREMENT PRINCIPLES FAIR & IMPARTIAL Invited, processed, and considered with fairness and impartiality BEST RETURN VALUE OPEN COMPETITION Providing opportunity for all eligible parties to compete TRANSPARENTLY MANAGED PUBLIC ACCOUNTABILITY Responsible implementation in accordance with established policies and regulations Providing the best return for every ringgit spent The procurement policy, regulations, and processes implemented should be known and understood by the public
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