Article 20: Procurement (1) The procurement policy of the Council shall be such as to encourage, in the interests of the Organization, world-wide competition in the supply of goods and services. To this end: (a) Procurement of goods and services required by the Organization, whether by purchase or lease, shall be effected by the award of contracts, based on responses to open international invitations to tender. (b) Contracts shall be awarded to bidders offering the best combination of quality, price and the most favourable delivery time. (c) If there are bids offering comparable combinations of quality, price and the most favourable delivery time, the Council shall award the contract so as to give effect to the procurement policy set out above. (2) In the following cases the requirement of open international tender may be dispensed with under procedures adopted by the Council, provided that in so doing the Council shall encourage in the interests of the Organization world-wide competition in the supply of goods and services. (a) The estimated value of the contract does not exceed 50,000 US dollars and the award of the contract would not by reason of the application of the dispensation place a contractor in such a position as to prejudice at some later date the effective exercise by the Council of the procurement policy set out above. To the extent justified by changes in world prices, as reflected by relevant price indices, the Council may revise the financial limit. (b) Procurement is required urgently to meet an emergency situation. (c) There is only one source of supply to a specification which is necessary to meet the requirements of the Organization or the sources of supply are so severely restricted in number that it would be neither feasible nor in the best interest of the Organization to incur the expenditure and time involved in open international tender, provided that where there is more than one source they will have an opportunity to bid on an equal basis. (d) The requirement is of an administrative nature for which it would be neither practicable nor feasible to undertake open international tender. (e) The procurement is for personal services.