(1)
Money is defined as "something generally accepted as a medium of exchange, a measure of value or a means of payment, as in officially coined or stamped metal currency."
"Fiat" means "authorization." Fiat money is legal tender, especially paper currency, authorized by a government. We use fiat money in this country in the form of U.S. dollars -- bread, dough, cash, lucre, bucks, loot, smackers. You get the picture.
In economic terms, money represents command over goods and services. But here's the rub. In our ever-shrinking world, where technology provides almost instant access to any country on the planet, the unit of exchange for command over goods or services is often unique to that nation. This gives rise to an entire industry called currency exchange.
Many of us are familiar with the British pound, Japanese yen, even Indian rupees. There are more than 40 commonly exchanged currencies.
They are the American dollar, Argentine peso, Australian dollar, Bahraini dinar, Botswana pula, Brazilian real, British pound, Canadian dollar, Chilean peso, Chinese yuan, Colombian peso, Czech koruna, Danish krone, euro, Hong Kong dollar, Hungarian forint, Iceland krona, Indian rupee, Iraqi dinar, Israeli new shekel, Japanese yen, Malaysian ringgit, Mexican peso, Nepalese rupee, New Zealand dollar, Norwegian kroner, Omani rial, Pakistan rupee, Polish zloty, Qatari rial, Saudi riyal, Singapore dollar, Slovenian tolar, South African rand, South Korean won, Sri Lanka rupee, Swedish krona, Swiss franc, Taiwan dollar, Thai baht, United Arab Emirates eirham and Venezuelan bolivar.
(2)
Public Tender Act
A Guide To Government Purchasing
TABLE OF CONTENTS
Introduction
Public Tender Act
Intergovernmental Agreements
Bid Opportunities
Contract Awards
Standing Offer Agreements
Payment of Invoices
The Central Purchasing Authority
Addresses and Telephone Numbers
INTRODUCTION
The Government Purchasing Agency (Agency) is the central procurement unit for the Government of Newfoundland and Labrador and is responsible for purchasing more than $250 million in goods and services annually on behalf of provincial departments and agencies. The Government Purchasing Agency is further responsible for the Central Purchasing Authority which coordinates and administers a system of high volume procurement on behalf of government funded bodies.
Any individual, company or organization - regardless of size - that wants to expand its opportunities for sales is a potential supplier of government requirements. The business community should be aware of the purchasing policies and practices of the provincial government in the areas of tendering, security and evaluation of bids and opportunities available through public sector procurement.
As the largest buying unit in the public sector, the Government Purchasing Agency is also responsible for:
• the application and administration of the Public Tender Act in the acquisition of goods and services;
• the administration of the corporate charge card system on behalf of government departments;
• the disposal of crown assets;
• the importation of goods through Canada Customs;
• the coordination of advertising for all government departments;
• the application and administration of Intergovernmental Procurement Agreements;
• the administration of electronic tendering.
This publication provides an overview of the purchasing procedures of the Agency and information on competing for public sector business. The staff of the Agency has extensive knowledge of procurement matters, and offers guidance to suppliers interested in selling to the provincial government.
More on the PUBLIC TENDER ACT
The Government Purchasing Agency functions under the legislative provisions of the Public Tender Act. The Act defines the legislative framework within which the Agency operates. The main goal of the public tender legislation is to ensure procurement is conducted in an open and competitive environment while maintaining fair and equitable opportunities for suppliers to compete for government business.
Competitive Bidding
The Government Purchasing Agency purchases all requirements possible on a competitive basis, in accordance with the Public Tender Act. The general exceptions are listed in Sections 3 and 4 of this Act and include the following:
• Emergency - procurement within time-frame constraints that does not permit normal purchasing procedures to be used, and where delayed delivery would be injurious to the public interest.
• Sole source - the dealer, supplier or contractor providing the work or acquisition is the only source of that work or acquisition.
(3) http://www.nfcc.org/
(4) Grow Up!
2006-07-21 17:44:21
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answer #10
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answered by polllydooodle 4
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