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Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)


Municipal Supply Chain Management Regulations, 2005

Chapter 2: Framework for Supply Chain Management Policies

Part 2: Acquisition management

30. Procurement of banking services


(1) A contract for the provision of banking services to a municipality or municipal entity—
(a) must be procured through competitive bids;
(b) must be consistent with sections 7 or 85 of the Act; and
(c) may not be for a period of more than five years at a time.


(2) The process for procuring a contract for banking services must commence at least nine months before the end of an existing contract .


(3) The closure date for the submission of bids may not be less than 60 days from the date on which the advertisement is placed in a newspaper in terms of regulation 22(1). Bids must be restricted to banks registered in terms of the Banks Act, 1990 (Act No. 94 of 1990).