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    Question

    In a public sector undertaking (PSU), a 'Reasonableness

    of Price' certificate is often required for purchases to:
    A Replace the tendering process. Correct Answer Incorrect Answer
    B Ensure that the price paid is fair and justified in the absence of competition. Correct Answer Incorrect Answer
    C Waive the requirement for quality checks. Correct Answer Incorrect Answer
    D Expedite the payment process. Correct Answer Incorrect Answer

    Solution

    This certificate is typically obtained when procurement is done from a single source or in cases of proprietary items where competitive bidding is not possible. It serves as an internal check to justify that the price negotiated is reasonable and fair to the organization.

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