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Running head: SOLE SOURCE CONTRACT

Sole Source Contract

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SOLE SOURCE CONTRACT

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Sole Source Contract

There are different types of contracts which are differentiated according on the conditions
and requirements which need to be met under the contract. The sole source contract is defined
according to the operational conditions associated with the contract. There are some who refer
the same kind of contract using different names. Some refer to it as single source contract.
Nevertheless, they mean the same as the sole source contract. The main issue here is that this
particular kind of contract is generally non-competitive. This sole contract is defined as “any
contract entered into without a competitive process, based on a justification that only one source
exists or that one single supplier can fulfill the requirements” (Malatesta & Smith, 2014).
There are different reasons as to why the sole source contract would be entered into
without using the required competitive process. Firstly, it is important to note that when this kind
of contract is entered into, there has to be reason enough which has been determined through
research that there is no other supplier who can fulfill the requirements of the contract apart from
just one (Malatesta & Smith, 2014). This kind of research has to be documented and carried out
thoroughly. This particular contract would also be used where there are no other suppliers which
can be considered reasonable or able to deliver the required products or services as per the set
standards and requirements.
A sole source contract can also be entered into when only one source is known to have
the ability to meet the business needs of the particular firm or agency that wants to contract with
it (Malatesta & Smith, 2014). This might be in light to the uniqueness of the business and als...