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Beneficiaries of the TEA funding are required to abide with the following procurement procedures;-
(i) Public educational institutions must adhere to the Public Procurement Act No. 21, 2004.
Private educational institutions are to follow the Standard Procurement Procedures.
(i) Disbursement of funds for TEA approved projects is effected directly to the suppliers, contractors or consultants upon proven delivery of goods or services and presentation of certified relevant documents. The documents include;-
a) Tax Invoice
b) Delivery Note
c) Goods Receiving Note
d) Contract Agreement between beneficiary and supplier/Contractor
e) Certificate of Works
(ii) Part payments may be effected in accordance to the contract terms entered between the institution and the suppliers and upon presentation of certified relevant documents.
Advance payment requests may be honoured. The institution has to avail the Authority with a bank guarantee of the supplier/contractor as collateral.
All successful applicants are required to follow TEA Disclosure Requirement.
TEA is a corporate body established under section 5(1) of the Education Fund Act No. 8 of 2001 to manage the Education Fund.
Our role is to work together with the Government, Public and other partners to solicit resources for Education Fund and effectively deploy the resources to facilitate Education Projects through providing loans and or grants to schools, colleges and universities.