The BANKSETA from time to time procures goods and services from various suppliers through the bidding/tendering system. These are all service contracts as well as all goods required above R500k. Bids are advertised through media, website and emails and on some occasions, companies are directly approached and can be invited to bid by phone also.
BANKSETA applies the Preferential Procurement Policy Framework Act of 2000 (PPPFA): 90/10 and 80/20 preference point system. Companies are asked to quote for services or goods required below R500k. legislation stipulates that 3 quotes are obtained when procuring. Suppliers are paid upon receipt of invoice within a 30 day period. The BANKSETA is committed to empowering Small and Medium Enteprises.