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New York Times in Companies Get Few Days to Offer Bids on Iraq Work reports contracts for smaller amounts are being expedited with as little as three days notice to submit bids. The article is by Edmund L. Andrews and Neela Banerjee.

Hoping to speed up reconstruction work in Iraq, American officials in Baghdad are offering contracts totaling hundreds of millions of dollars, but giving companies as little as three days to submit competing bids.

Procurement experts said the extremely short deadlines were legal, but some warned that they could stifle open competition, favor well-connected contractors at the expense of outsiders and lead to higher costs.

[...]

The current rush of contracts is being financed out of the new Development Fund of Iraq, which holds money received from Iraqi oil exports. Since the fund's inception in mid-July, coalition officials say they have awarded 143 projects worth more than $200 million.

The New York Times article also updates the figure the USAID has awarded to the US Army Corps of Engineers for monitoring Bechtel Corporation's $680 million contract. The new figure is $10 million dollars. Gee. That's funny. Bpost thought it was supposed to be $3 million. At least, that was what the USAID spokesperson had said back in June.

The U.S. Agency for International Development will pay the Army Corps of Engineers $3 million under an existing contract to keep track of Bechtel National Inc.'s $680 million construction contract over the first year.

Reference
PDF - Army Corps to Oversee Iraq Contract
by Jackie Spinner
Washington Post
June 14, 2003

So what gives? More "parking" of funds?