Use Of Tendering And Competitive Bidding In Public Sector Procurement

1.8 LIMITION OF THE STUDY 
In the process of conducting this study the researcher has confronted with the various problems among them are:
(i) It was not easy for the researcher who had to combine attending lectures in school and other activities in school with the various visits to the ministry during this research work. This in no small way limit the level of investigation, the research intended to carry out. 
(ii) Yet another limitation faced by the researcher was financial constraints. This made it impossible for the researcher to make all the necessary visits in order to obtain the right quality and quality of information the research of this nature requires. 
(iii) Lastly many officials changes with the management and administration of tendering and competitive bidding and public sector contracts were not keen to give out much needed information by way of documents and forms which were classified as “ strictly confidential” by the government.
1.9 DEFINTION OF TERMS
(1) BID: A quotation for a price or other conditions for contracts whether for payment or acceptance. 
(2) LEAD TIME: This is the interval between when a need is perceived and the fulfillment or satisfaction of that need.
(3) TENDER: It is the procedure through potential suppler are invited through newspaper and other selected media advertising to make a firm and unequivocal offer of the price and terms which on acceptance, shall be the basis of the subsequent contract in competition with others. 
(4) COMPETITIVE BIDDING: This is one of the methods by which the right price can be obtained.
(5) QUOTATION: A formal statement prepared by a contactor/ supplier to his customer that includes cost estimates specification and other key information about an agreement between the two parties. 
(6) GOVERNEMNT: An institution with power to govern and direct the affairs of a state.
(7) EVALUATION: The process of finding out and deciding the amount and value of something.
(8) NEGOTIATION: Seeking agreement between the purchaser and the contractor/ supplier on mutually acceptance terms and conditions prior to conclude a contract. 
(9) ANALYSIS: The process of breaking components into separate parts or units in order to examine each unit and constitute critically. 
(10) CERTIFICATE: Act of licensing by a document formally testing the fulfillment of conditions. 
(11) PROCEDURE: A May, system or pattern of performing a work, service, suppliers etc. 
(12) PERFORMANCE BONDS: This is an undertaking or security to perform a contract as required and failure to perform as required the client will be compensated by the supplier or contractor. 
(13) SPECIFICATION: This is the description of any objective materials or process in sufficient detail requirement of a job/ suppliers or contract which the contractor or the supplier must compile with. It is what the supplier must supply to the buyer as describable by the buyer. 
(14) SOURCING: This is a process and procedure used by the buyers to survey, evaluate and determine which supplier that can meet with the best requirement of their organization.
(15) SOURCING POLICY: These are policies developed to guide the purchasing functions in respect of who may be the major sources of the organizational suppliers. 
(16) QUALITY: Quality is the fatality of futures and characteristic of a product or a serves that bears in the ability to satisfy a sated or implied needs.
(17) PRICE: This the amount of money for which a thing is offered sold or brought
(18) PRICE ANALYSIS: This is the examination of the sellers price without examination elements of the cost and profit element that make up the price.
(19) FAIR PRICE: A fair price is the lowest price that make it possible for a continuous supply of the right quality materials by the supplier where and when needed.
(20) SELECTIVE TENDER: There a method where only competent suppliers on the approved list of supplies are invited by the buying firm to tender. 
(21) FORWARD BUYING: This is a buying practice which embraces the buying of materials in quantity more that it current requirements. 
(22) STANDARDIZATION: It is an agreement on definite sizes, design, quality and the like.
(23) CONTRACT: It can be defined as an agreement between two or more persons which is intended by them to have legal consequences. 
(24) PRICING: This is the process of determine the price
(25) ORDER: This is an instruction to a manufacturer or trader to supply something