What is prime contractor in SAP PSM-GPR - Procurement for Public Sector?

SAP Term: prime contractor

• Component: PSM-GPR

• Component Name: Procurement for Public Sector

• Description: The entity with whom an agent of a public sector organization enters into a prime contract for the purposes of obtaining supplies, materials, equipment, or services of any kind.

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• Key Concepts: 
  A prime contractor is a company that is responsible for the overall management of a project or contract. In the context of SAP PSM-GPR Procurement for Public Sector, a prime contractor is responsible for the procurement of goods and services from suppliers, as well as the management of the contract and its associated activities. 
  
  How to use it: 
  In SAP PSM-GPR Procurement for Public Sector, a prime contractor is responsible for managing the procurement process from start to finish. This includes selecting suppliers, negotiating contracts, managing the delivery of goods and services, and ensuring that all contractual obligations are met. The prime contractor also has the responsibility of ensuring that all payments are made in a timely manner. 
  
  Tips & Tricks: 
  When selecting a prime contractor, it is important to ensure that they have experience in managing similar projects or contracts. It is also important to ensure that they have a good understanding of the procurement process and are able to provide timely and accurate information about the progress of the project or contract. 
  
  Related Information: 
  For more information about SAP PSM-GPR Procurement for Public Sector, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information about the procurement process and how to select a prime contractor.