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Contract award notices are the notices containing information about the contract awarded to the supplier/s or a consortium of suppliers. In public procurement contracts are awarded after careful consideration and evaluation on different parameters. Each purchaser has its own evaluation criterion. But for financed projects the purchaser or the Project Implementing Unit (PIU) must follow the guidelines of the financier or the funding agency.
Few procurement methods adopted by the World Bank are: CQB (Selection Based On Consultant's Qualification), FBS (Selection Under a Fixed Budget), LCS (Least Cost Selection), QBS (Quality Based Selection),QCBS(Quality And Cost-Based Selection), SDC(Service Delivery Contracts), SSS(Single Source Selection), Direct Contracting, FCA (Force Account), ICB (International Competitive Bidding), ISH (International Shopping), LIB (Limited International Bidding), NCB (National Competitive Bidding) and NSH (National Shopping) etc.