MCPPO Public Contracting Overview: Public Purchasing Principles Study Guide with Complete Solutions
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Course
2024/2025
Institution
2024/2025
MCPPO Public Contracting Overview:
Public Purchasing Principles Study Guide
with Complete Solutions
Best value - Answer-means awarding contracts based on several factors: a vendors ability to
successfully complete the contract on time, at the quality level pecified, at the offered price. techni...
MCPPO Public Contracting Overview:
Public Purchasing Principles Study Guide
with Complete Solutions
Best value - Answer✔✔-means awarding contracts based on several factors: a vendors ability to
successfully complete the contract on time, at the quality level pecified, at the offered price. technical
quality of the supplies and services offered and the vendors past performance on similar contracts.
The principal objectives of the public purchasing - Answer✔✔-obtain materials, services, and facilities
required by public organizations, when and where the materials services and facilities are needed, at the
best price reasonably available, through open fair competition, at a reasonable cost.
Purchasing conrols - Answer✔✔-Establishing authority for approval of transactions, establishing
responsibility for executing transactions, segregation of duties, control of access to assets and records.
monitoring
Four elements of a contract - Answer✔✔-mutual assent, offer and acceptance, consideration, and
definite of contract terms.
Mutual Assent - Answer✔✔-the parties to a contract agree of have a meeting of the minds as to what
they agree to do or not to do.
prior appropriation - Answer✔✔-a municipality must have prior appropriated funds before entering into
a contract. state finance law also contains a prior appropriation requirement.
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