The Cyprus Institute is always striving to improve value for money from the procurement of goods, services and works. It is vital to ensure that expenditures are constrained within the Institute’s budgetary provisions and resources are selected, acquired, and managed in the best possible way. To achieve this goal, Law 73(i)2016 and Regulations of the Republic of Cyprus (which are in full compliance with European Directive 2014/24/EC) apply across the procurement spectrum involving Government, structural, EU and other funds undertaken by the Institute.
The Cyprus Institute is committed to adhering the following procurement objectives:
- Obtaining best value and minimum risk when procuring goods and services.
- Ensuring that all staff involved in the procurement process are aware of the relevant law and regulations and are trained in the skills appropriate for the financial level and strategic impact of their purchases.