The threshold value for when contracts become subject to The Public Contracts Regulations are revised every two years and are adjusted to take into account exchange rate differences between Sterling and the Euro.
The new thresholds will apply to contracts being procured on or after 1st January 2020 and the revised figures applicable to non-central government are:
Threshold until 31/12/2019 (old)
Threshold from 01/01/2020 (new)
Supplies and Services
The thresholds will continue to be net of VAT and will apply to the value of the contract throughout its duration (not the annual value) including any possible extensions.
We advise revising your Financial Regulations and Procurement Procedures.
The Public Contracts Regulations require you to advertise your contract opportunity in the Official Journal of European Union, and where required, on Contract Finder and to follow the procedural rules set down in the Regulations before you can award the contract. You are required to do this unless you are using an existing compliant framework agreement such as those provided by CPC.
If your organisation needs any procurement assistance, you can learn more about our onsite procurement support on our Managed Service page or contact us today on 01376 511 411 or email@example.com