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. Spurred on by domestic policies, trade agreements, and international organizations such as the World Bank, a new international system to regulate this strategic economic force is rapidly evolving–a system this is the first book to explore and elucidate.In unprecedented depth, three international leaders in public procurement law fully explain how the procurement award process must be managed to achieve its goals in today’s global market economy. Regulating Public Procurement will 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; recognise circumstances under which discretion-based (rather than rules-based) initiatives may be more effective.Drawing on their extensive experience and expertise, the authors clarify the important distinctions between the realities of public procurement in industrialized, developing, and transitioning economies.Throughout the book the reader will find detailed practical examples and important texts, including significant public procurement decisions of courts and other tribunals; resolutions of various national and international councils; and pertinent excerpts from legal commentators.
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