Part 169: Closed Procurements
(OUTPUT Project Procurement Management: Control Procurements)

  • A Closed Procurement is one where the seller has fulfilled all its obligations under the contract
  • Typically, the buyer will notify the seller, in writing, when the contract is completed
  • The contract may contain requirements for formally closing the procurement
  • A Procurement is considered closed when
    • All deliverables are provided on time
    • Deliverables are approved by the buyer
    • All the seller’s invoices have been paid