What does LFN 2012-10 pertain to?

LFN 2012-10 pertains specifically to the use of national cooperative contracts in New Jersey. This notice was issued to provide guidance and clarification on how local governments in New Jersey can participate in cooperative purchasing agreements that are established at a national level.

Cooperative purchasing allows multiple governmental agencies to benefit from the combined purchasing power, often leading to cost savings and efficiency in the procurement process. LFN 2012-10 outlines the requirements and procedures that should be followed to ensure compliance with state laws while participating in these cooperative contracts. This notice emphasizes the importance of proper oversight and documentation when utilizing national contracts, which can streamline procurement but also necessitates adherence to legal standards.

Understanding LFN 2012-10 is crucial for qualified purchasing agents, as it empowers them to make informed decisions regarding procurement strategies that can enhance value for their municipalities.