The application of the principles of integrity, transparency, accountability, fairness and efficiency to all decision making on public investments and purchases will minimize corruption and maximize the economic, financial, social, environmental and political benefits of public procurement.
Integrity: Integrity means that the procurement processes are honest and in compliance with the respective laws, that the best available, most suitable technical expertise is employed in a non-discriminatory manner.
Transparency: Transparency means that laws, regulations, institutions, processes, plans and decisions are made accessible to the public at large or at least to public “representatives” so that processes and decisions can be monitored, reviewed, commented upon and influenced by the stakeholders, and decision makers can be held accountable for them.
Accountability: Accountability means that governments, public and various other agencies acting on their behalf must be accountable for the correct and complete execution of their tasks and duties and for the decisions and actions being made in their area of responsibility.
Fairness, Economy, and Efficiency: Contract award decisions should be fair and impartial. Public funds should not be used to provide favors to specific individuals or companies; standards and specifications must be nondiscriminatory; suppliers and contractors should be selected on the basis of their qualifications and the merit of their offers; there should be equal treatment of all in terms of deadlines, confidentiality, and so on.
