“A horse never runs so fast as when he has other horses to catch up and outpace.”
Ovid
Competition may bring out the best but what if there is no competition? There are two non-competitive forms of procurement that you should be aware of
1. Single Source
This means that the organization has a preferred seller. Preferred sellers are usually listed in the Qualified Sellers List. Basically, based on the past experience the organization has finalized a seller for procurement. This seller will be known as the single source and there is no competition in sight
2. Sole Source
This is when even if the organization wants to bring in competition, there is no competition available out there. This is because the Sole Source is the only seller in the market. The Sole Source may have a patent or a monopoly on the item you are looking to procure
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