Procurement Policy

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.

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