Conduct of Business
[15. (1) No contract shall be made for execution of any work or for supply of any material or goods without inviting tenders in respect thereof by notice published in local newspapers.
(2) The time to be stipulated in the notice for submission of a tender under sub-section (1) shall be,-
(a) in a case where the work to be executed or the material or goods to be supplied involves an expenditure not exceeding Taka ten thousand, not less than seven days; and
(b) in all other cases, fourteen days.
(3) A tender submitted under sub-section (1) may be accepted by the Chairman but, in a case where the expenditure involved in the work to be executed or the material or goods to be supplied exceeds Taka five lakhs, the tender shall not be accepted by him without the prior approval of the Authority.
(4) The provisions of this section shall not be construed as requiring the acceptance by the Chairman or approval by the Authority of a tender; and the Chairman, where necessary with the approval of the Authority, may-
(a) accept any tender which appears to him, in consideration of all circumstances, to be the most advantageous, or
(b) reject all the tenders submitted to him.]