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Administration Manual - B.E.S.T. Undertaking.

Administration Manual - B.E.S.T. Undertaking.

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1514<br />

7. ADMINISTRATIVE REQUIREMENTS<br />

The <strong>Undertaking</strong>’s procurement is governed by MMC Act.<br />

7.1 Brief provisions under MMC Act:<br />

7.1.1 Section<br />

460K(c)<br />

7.1.2 Section<br />

460K(d)<br />

7.1.3 Section<br />

460K(e)<br />

7.1.4 Section<br />

460K(L)<br />

7.1.5 Section<br />

460(M)<br />

: Prior approval of the BEST Committee is<br />

necessary for the contracts exceeding<br />

Rs.10 lacs.<br />

The BEST Committee has to decide the<br />

contract within 30 days from the date of<br />

first agenda; otherwise the contract will<br />

be considered as deemed to have been<br />

approved.<br />

: All contracts made above Rs.1 lac have to<br />

be reported to the BEST Committee.<br />

: Variation in any approved contract to be<br />

reported to the BEST Committee.<br />

: Dispense from public advertisement.<br />

: Public Advertisement is essential for any<br />

contract above Rs.50,000/-.

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