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What Are The Procurement Procedures Of TVP Funding? Find Out The Details.

TVP Funding is a program launched by the Hong Kong government in November 2016. It was launched with the goal to increase productivity with better tech support and solutions.

The eligible applicants should make sure that they are providing all the details to carry out an open and fair competition with other applicants and get fair chances for appointing reasonably qualified suppliers or service providers.

The applicants should adhere to the following procurement procedures:

For every procurement of equipment or other goods or services for the completion of the project, the aggregate value of which does not exceed HK$50,000, the applicant itself must provide the written price quotation from at least two suppliers or service providers.

For every procurement of equipment or other goods or services for the completion of the project, the aggregate value of which exceeds HK$50,000 but does not exceed HK$300,000, the applicant itself must provide the written price quotation from at least three suppliers or service providers.

For every procurement of equipment or other goods or services for the completion of the project, the aggregate value of which exceeds HK$300,000 but which does not exceed HK$1,400,000, the applicant itself must provide the written price quotation from at least five suppliers or service providers.

For every procurement of equipment or other goods or services for the completion of the project, the aggregate value of which does not exceed HK$1,400,000, the applicant will follow an open procurement process.

The applicants must provide all the details with full justification of the requisite number of quotations at the time of application as evidence of proper quotations at the time of application. If you can applying for the program, make sure that the quotations are comparable as far as practicable while submitting the application. This will help the ITC and the Committee to compare and decide.

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