Procurement is the process of buying goods, works or services. For instance, in terms of PPP, procurement comprises the process of buying the basic infrastructure and services. This may, for example, involve the acquisition of operation and management services for a basic service such as water supply. Procurement is often carried out by the process of tendering, rather than buying products directly from a seller. A company or organisation (the promoter, client or employer) wishing to obtain goods or services will first specify its requirements. Subsequently, it will open the bidding in a process known as tendering. Interested companies can then submit their proposals to the client (often a local government) to meet these requirements. The government offering the tender will then evaluate the bids to decide which offer best suits its requirements. The company that has been successful in the tender process will perform the work by contract. The underlying objectives of procurement and tendering are concerned with ensuring competition, which is viewed as a key factor in achieving the twin objectives of: accountability in the spending of public money; and transparency in the steps of the decision-making processes.