Procurement & Tendering

Question 1

What are the 3 principles for partnering?

Answer 1

1. Equality: parties should not take the upper hand from other parties
2. transparency: all actions transparent
3. equal benefit: benefits as agreed (employer finishes the building on time/contractor gets paid on time.)

Question 2

Explain Joint venture (JV)

Answer 2

Commercial alliance
represent a single entry
risk and reward shared

Question 3

What is Consortium

Answer 3

working for a common goal
represent 2 or more entities
profit and loss shared as they contribute to the contract.