Procurement Policy of FBTF
The Future Bridge Tech Foundation’s
Procurement Policy ensures transparency, fairness, and value for money in all
acquisitions of goods, works, and services. It defines the principles,
procedures, and ethical standards that guide our procurement operations under
the oversight of the CEO and Executive Secretary.
1. Purpose
The purpose of this Procurement
Policy is to establish transparent, fair, and efficient procedures for the
acquisition of goods, works, and services required by the Future Bridge Tech
Foundation. It ensures that all procurement activities are conducted in a
manner that upholds integrity, accountability, and value for money, while
promoting the Foundation’s mission of bridging educational, technological, and
social gaps.
2. Scope
This policy applies to all
procurement activities undertaken by the Foundation at all levels — including
projects, programs, administrative operations, and donor-funded initiatives. It
is binding on all staff, volunteers, and Board members involved in or
influencing procurement decisions.
3. Guiding Principles
All procurement activities shall be
governed by the following principles:
·
Transparency: All processes and decisions shall be open, fair, and properly
documented.
·
Accountability: Every person involved in procurement is accountable for their
actions and decisions.
·
Value
for Money: Goods and services shall be
acquired in a cost-effective and efficient manner without compromising quality.
·
Integrity
and Fairness: All suppliers shall be treated
equally and evaluated based on merit.
·
Sustainability: Preference shall be given to environmentally responsible and
socially inclusive suppliers.
4. Procurement Procedures
The Foundation shall apply
appropriate procurement methods depending on the nature and value of the item
or service required:
1. Direct Purchase: For low-value items or urgent needs, provided proper
approval and documentation are maintained.
2. Request for Quotations (RFQ): For medium-value purchases where at
least three quotations are obtained and compared.
3. Open Tender: For high-value or specialized procurements requiring
transparent advertisement and competitive bidding.
4. Sole Sourcing: Allowed only under justified circumstances — such as
specialized works, emergency needs, or where a single supplier has unique
expertise or rights.
All procurement requests shall be supported by a requisition form, approval
from the relevant officer, and proper record-keeping.
5. Supplier Selection and Evaluation
Suppliers shall be selected based on
their technical capacity, financial reliability, past performance, and
compliance with laws and ethical standards. Preference shall be given to local
suppliers where feasible, particularly those that align with the Foundation’s
social impact goals.
Periodic evaluations shall be conducted to ensure suppliers maintain high
standards of quality, delivery, and service.
6. Preferred and Related-Party
Suppliers
To promote operational reliability
and cost efficiency, the Foundation recognizes Sir Larry Technologies,
an entity duly registered under the laws of the Republic of Ghana and owned by
the Chief Executive Officer (CEO) of the Foundation, as its preferred
service provider for all IT-related works.
Sir Larry Technologies has been instrumental in the early development of the
Foundation, including the design, development, and hosting of the Foundation’s
official website — services that were provided voluntarily and at no cost
during the formative stages of the organization.
Given this contribution, and the entity’s established technical competence, Sir
Larry Technologies shall be given preference for IT-related works such as
system development, maintenance, and digital solutions, unless such work
is determined by the CEO and Executive Secretary to be beyond the capacity or
scope of the said entity. In such cases, the Foundation shall engage
alternative vendors through a transparent and competitive process.
This arrangement is openly declared and approved by the Board of the Future
Bridge Tech Foundation and shall not constitute a conflict of interest, as it
is based on full transparency, prior disclosure, and continued accountability
in all IT-related procurement processes.
7. Conflict of Interest
All persons involved in procurement
shall disclose any actual or potential conflict of interest in writing. No
staff, volunteer, or Board member shall participate in a decision that could
directly or indirectly benefit them personally or financially without prior
disclosure and Board approval.
8. Ethics and Transparency
All procurement activities shall be
conducted ethically and without favor, fraud, or coercion. Gifts, bribes, or
inducements from suppliers are strictly prohibited. Any breach of ethical
standards shall lead to disciplinary action and possible legal consequences.
9. Documentation and Accountability
Every procurement process must be
fully documented, including requisitions, quotations, evaluations, approvals,
contracts, and receipts. All records shall be securely stored for at least five
(5) years and made available for audit or inspection upon request.
10. Roles and Responsibilities
·
CEO
/ Board Chairperson: Provides overall oversight,
approves high-value procurements, and ensures compliance with policy.
·
Executive
Secretary: May sign procurement approvals and
oversee implementation as delegated by the CEO.
·
Procurement
Officer / Committee: Handles technical evaluations,
supplier selection, and documentation.
·
Finance
Department: Ensures that all procurements are
supported by budgetary allocations and proper payment records.
11. Review and Amendment
This policy shall be reviewed every
two (2) years or as may be required by the Board to ensure its relevance and
alignment with best practices. Amendments shall be approved by the Board and
recorded in the Foundation’s policy register.
Approved by the Board of Directors of Future Bridge Tech Foundation.
Date: 17-10-2025