PART 1

Key definitions

Valuation of contracts
4
1
For the purposes of this Act, the “estimated value” of a contract is its value for the time being estimated by a contracting authority.
2
A contracting authority that estimates the value of a contract must do so in accordance with Schedule 3.
3
A contracting authority must not exercise a discretion in connection with estimating the value of a contract with a view to securing that any requirement of this Act does not apply in relation to the contract.
S. 4 not in force at Royal Assent, see s. 127(2)
S. 4 applied (24.2.2025) by S.I. 2013/1582, reg. 6(2), Sch. 2 Pt. 1 (as amended by The Procurement Act 2023 (Consequential and Other Amendments) Regulations 2025 (S.I. 2025/163), regs. 1(2), 17 (with reg. 33))
S. 4 in force at 24.2.2025 by S.I. 2024/716, Sch. (as amended by S.I. 2024/959, regs. 1(2), 2(7)(a))