Procurement Policy

Innovacorp follows the Nova Scotia Sustainable Procurement Policy. This policy was designed to drive the best value for the expenditure of public funds on the acquisition of goods, services and construction through maximizing competition, adopting commercially reasonable business practices, and conducting open, fair and transparent procurement processes. The policy and processes have been designed to ensure the principles of public procurement are being adhered to, while supporting sustainable procurement in the province.

A summary of pertinent information related to the applicable methods of procuring goods, services and construction is as follows:

Standing Offers: A continuous offer from a pre-approved supplier to supply goods and/or services, as requested, through the use of a call-up process during a particular period of time, at a predetermined price or discount, generally within a pre-defined dollar limit. For clarity, this also includes contracts established through the managed service provider (MSP) program.

Innovacorp must use existing Province of Nova Scotia standing offers where applicable to achieve contracted benefits through the consolidation of purchases.

Obtain Quotes if Under Threshold (under $10,000), also known as Low-Value Procurement

If no standing offer exists for a spending category, and if the value of goods, services or construction are over $2,500 and less than $10,000, Innovacorp is expected to request a minimum of three competitive quotes wherever possible and award to the bid that provides the best value for:

Goods up to $10,000
Services up to $10,000
Construction up to $10,000

Tender when Over Threshold (over $10,000)

If no standing offer exists for a spending category, and if purchases or leases are above $10,000, Innovacorp must procure goods, services and construction through a competitive process in accordance with one of two ways:

The tender specifications (e.g., objectives, requirements, criteria, evaluation) are prepared by Innovacorp and posted through the Nova Scotia Procurement’s Tender Notices web portal.

For a complete outline of the processes referenced above, please read the Nova Scotia Sustainable Procurement Policy.