Regulating Public Procurement

Because of its enormous economic power and susceptibility to corruption, public procurement - the purchase by government of goods and services - has come under increasing regulation as world trade expands. Three international leaders in public procurement law fully explain how the procurement award process must be managed to achieve its goals in global market economy. This work should educate government officials, trade lawyers, and students in how to comply with existing and emerging regulatory schemes as they: select a contractor and plan the contract, with detailed attention to terms, conditions and specifications; allow for national security, national industrial development, and environmental protection; get value for money and avoid waste of public funds; publicize contracts; combat corruption; secure successful completion of contracts; balance pressures to buy from domestic sources with the economic benefits of international competition; harness procurement power to promote social and environmental goals; enforce compliance with public procurement rules; and recognize circumstances under which discretion-based (rather than rules-based) initiatives may be more effective.