What must happen within 60 days after bids are received in the Competitive Contract process?

In the Competitive Contract process, the requirement that an award must be made within 60 days after bids are received ensures timely decision-making and the efficient awarding of contracts. This timeframe is crucial as it promotes a prompt conclusion to the procurement process, allowing the organization to move forward with the necessary services or goods outlined in the bids. Making an award within this period adheres to regulatory requirements and fosters trust in the procurement process by ensuring that bidders receive timely communication regarding the outcome of their proposals.

This time constraint is particularly important in public procurement, where delays can hinder project timelines and create uncertainty for all stakeholders involved. It encourages organizations to evaluate the bids systematically and reach a confident decision efficiently, thus supporting effective contract management.