The procedure for competitive negotiation shall be as under:-
(a) procurement of the subject matter shall be made through the competitive negotiations committee. The committee shall give the following certificate- “Certified that we ---------------------------------------------------------------------------(names of members of the committee), members of the competitive negotiations committee are jointly and individually satisfied that the subject matter of procurement recommended is of the requisite specifications and quality, priced at the prevailing market rate and the supplier recommended is reliable and competent to supply the subject matter of procurement.”
(b) to ensure effective competition, an adequate number, not being less than three, of potential bidders selected in a non-discriminatory manner shall be included in procurement process;
(c) an equal opportunity shall be given to all bidders to participate in the negotiations. Any requirements, guidelines, documents, clarifications or other information related to the negotiations that is communicated by the procuring entity to a bidder before or during the negotiations shall be communicated, subject to section 49, at the same time and on an equal basis to all other bidders engaging in negotiations with the procuring entity related to the procurement, unless such information is specific or exclusive to that bidder;
(d) after completion of negotiations, the procuring entity shall request all bidders remaining in the proceedings to present, by a specified time and date, a best and final offer with respect to all aspects of their proposals;
(e) the committee shall keep the record of all the bids received;
(f) no negotiations shall take place between the procuring entity and bidders with respect to their best and final offers;
(g) the procuring entity shall ensure that the successful offer is the lowest or most advantageous offer; and
(h) nothing contained in sections 5 to 10 (both inclusive), sections 12 to 27 (both inclusive) and Chapter III of the Act shall apply to purchases made by competitive negotiations.