Venus Charumbira
Zim GBC News
www.zimgbcnews.co.zw
People hoping to do business with the government are being urged to get their paperwork in order or risk being thrown out of the bidding process.
Brian Muparaganda, a finance officer of the Procurement Regulatory Authority of Zimbabwe (PRAZ), laid out the key financial rules that bidders must follow.
His message is simple, mistakes cost money and late or incorrect payments lead to disqualification.
PRAZ will only approve payments once funds have settled in its account. Suppliers must submit correct attachments and proof of payment, only then does the 48-hour approval clock start.
“Timely payment is essential, we support the end-to-end process but only when procedures are followed”, said Muparaganda.
For high value contracts, bidders must submit a bid bond. This is a financial guarantee to prove they are serious.
Under Section 26 of the regulations, the bond must not exceed 2% of the estimated contract value. It must also apply equally to all bidders.
“If a bidder withdraws their offer, refuses to fix an error or fails to sign the contract, the bond is forfeited”, Muparaganda added.
He also stated that, refunds are only issued after the tender process is complete or when the winning bidder submits a performance guarantee.
No supplier can take part without a valid PRAZ registration certificate. One sample certificate shown in the presentation covered motor vehicle spares and tyres, issued March 2024 and expiring December 2024.
“Suppliers must also check the current statutory instrument for fee changes. All payments must be made against an official invoice”.
A sample invoice for agricultural supplies showed a total of ZiG 25.73, payable to CBZ Bank. Payment is due within seven days.
The invoice and PR number must be used as a reference. Once payment is made, the proof must be uploaded to the portal. Only then will a receipt and certificate be generated.
“The interbank reference is what links your payment to the PRAZ system, if the reference is wrong the system does not see your payment”, Muparaganda stressed.
The procurement cycle involves payments at every stage:
- Registration fees to get onto the system.
- Tender stage fees for administration, bid security, and bid establishment.
- Contract administration fees for winning bidders before signing.
Oficials warn that payments must match the currency and banking details on the invoice. A mismatch is a common reason for disqualification.
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