The contract value refers to the financial value of a contract awarded in a procurement procedure. The contract value indicates the amount the contracting authority is willing to pay for the performance of the contract.
The contract value is usually estimated or predetermined by the contracting authority and can be calculated in various ways. It can be stated either as the total amount of the contract value or as an estimated value over the period of the contract.
Contract value has several meanings and implications in the procurement process:
The exact value of the contract is usually not finalized until after the award decision is made and the contract is signed. However, the contract value may be stated in the bidding documents or contract notice to provide guidance to potential bidders and assist them in submitting their bids.
It is important to note that the contract value includes not only the price of the services or product, but also any relevant costs that may be incurred under the contract, such as delivery costs, incidental costs, or optional services. The exact scope of the contract value is defined in the contract documents and the specific terms of award.
The contract value plays a decisive role in the award of public contracts, as it reflects the economic importance of the contract and is taken into account in the selection of the most economical bidder.
SOME TEXT NEEDED!
Alternatively, you can send us your application by mail to: abante Rechtsanwälte | Lessingstr. 2, 04109 Leipzig or send an e-mail to: email@example.com