How are construction contractors or companies selected and paid?

§ 256.22 How are construction contractors or companies selected and paid? The servicing housing office must follow Federal procurement or other Bureau-approved tribal procurement policy. Generally, your servicing housing office develops a “bid specification” or statement of work, which identifies the work to be performed. The appropriate contracting office uses the “bid specification” to provide information and invite bids on the project to interested parties. The contracting office selects the winning bidder after technical review of the bids by and written recommendation from the servicing housing office, and after determination that the bidder is qualified and capable of completing the project as advertised. (a) Partial payments to independent contractors will not exceed 80 percent of the value of the completed and acceptable work. (b) Recommendation for final payment will be made after final inspection and after all provisions of the contract have been met and all work has been completed.